The FIRS said the form is required to be completed by customers of financial institutions who maintain accounts in countries and tax jurisdictions other than Nigeria, for tax and anti-money laundering monitoring purposes.
This is to clarify that the publication for financial institutions account holders in Nigeria to complete the self-certification form, pursuant to the Income Tax (Common Reporting Standard) Regulations 2019 which is for the fulfilment of Automatic Exchange of Information Requirements.
Financial Institutions are expected to administer the Self Certification form on such account holders when information at its disposal indicates that the Account holder is a person resident for tax purpose in more than one jurisdiction.
The information that indicates an account holder is a resident for tax purposes in more than one jurisdiction, is expected to be available to Financial Institutions during account opening processes for the KYC (know your customer) and AML (Anti-money laundering) purpose.
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