Taxation: Banks set to release customers’ information to FG

The Deposit Money Banks in the country are about installing appropriate technologies that will enable them to submit the information of wealthy customers and other taxpayers to the Federal Government under the Common Reporting Standard programme, which Nigeria signed up to last August. The CRS, an automatic exchange of information programme, is being driven by the Organisation for Economic Co-operation and Development, an intergovernmental body with 35 member countries. The CRS, which is similar to the United States Foreign Account Tax Compliance Act, promotes sharing of information across borders

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