The chairman of the Federal Inland Revenue Service (FIRS), Babatunde Fowler, has revealed that Nigeria loses about $15 billion annually to tax evasion.
Mr Fowler made this known at the West Africa Tax Administration Forum in Abuja.
He disclosed that a huge amount of money is being kept offshore and are un-taxed.
The FIRS boss said plans are underway to tackle issues of international tax avoidance, illicit financial flows and other harmful tax practices, using advanced technology.
He added that as part of efforts to improve transparency in tax administration and revenue collection, Nigeria would implement the first Automatic Exchange of Information Standard by 2020