FIRS’ Advanced Arsenal: Unveiling Data Analytics and AI in Identifying Tax Evasion

Introduction: In an era dominated by digital transformation, tax authorities worldwide are leveraging cutting-edge technologies to enhance their capabilities in identifying and combatting tax evasion. The Federal Inland Revenue Service (FIRS) in Nigeria is at the forefront of this technological revolution, utilizing data analytics and artificial intelligence (AI) to streamline tax compliance and unearth instances of evasion. This article delves into how FIRS employs these advanced technologies to strengthen its enforcement efforts and ensure a fair and transparent tax system. Data Analytics: Illuminating the Tax Landscape FIRS harnesses the power of data analytics to process vast volumes of financial information swiftly and efficiently. Here’s how data analytics is instrumental in identifying tax evasion: Artificial Intelligence: Transforming Tax Compliance The integration of artificial intelligence augments FIRS’ capabilities, providing a dynamic and intelligent approach to identifying tax evasion: The Impact on Taxpayers and Compliance: Conclusion: FIRS’ embrace of data analytics and artificial intelligence marks a transformative shift in the fight against tax evasion. By harnessing the power of these technologies, FIRS not only enhances its enforcement capabilities but also fosters a tax environment characterized by fairness, transparency, and efficiency. As technology continues to evolve, FIRS remains committed to leveraging innovative solutions to build a robust tax system that encourages compliance and contributes to Nigeria’s economic development. For professional advice on Accountancy, Transfer Pricing, Tax, Assurance, Outsourcing, online accounting support, Company Registration, and CAC matters, please contact Sunmola David & CO (Chartered Accountants & Tax Practitioners) at Lagos, Ogun state Nigeria offices, www.sunmoladavid.com. You can also reach us via WhatsApp at +2348038460036.

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