The Federal Inland Revenue Service (FIRS) has issued a clarification on the filling and submission of Self-certification forms in their financial institutions and insurance firms.
Following the controversy generated by the directive from the Federal Government that account holders must fill self-certification forms, the FIRS in a series of tweets explained that the process is not for all Nigerians.
“The Self Certification form is basically to be administered on reportable persons holding accounts in Financial institutions that are regarded as “Reportable Financial Institutions” under the CRS.
“Reportable persons are often non-residents and other persons who have residence for tax purposes in more than one jurisdiction or Country,” it explained.
According to FIRS, financial institutions are expected to administer the “Self Certification form on such account holders when the information at its disposal indicates that the Account holder is a person resident for tax purpose in more than one jurisdiction.”
