Mondaq All Regions - Nigeria: Tax
Strachan Partners
Tax administration in Nigeria is vested in the three tiers of government.
Deloitte Nigeria
Nigeria has rolled out another tax amnesty scheme. Backed by Presidential Executive Order No 8 signed on 8 October 2018, VOARS became the latest effort at combating money laundering and tax evasion.
Adebiyi Tax & Legal
The exercise of the powers in Section 31 FIRS Act marks a new approach towards tax enforcement in Nigeria.
Adebiyi Tax & Legal
The Claimant commenced the action at the Lagos State High Court to challenge the Demand Notice served on it by LIRS for alleged failure to deduct and remit taxes due from its employees.
Advocaat Law Practice
The Federal Inland Revenue Service (FIRS) recently released the Income Tax (Transfer Pricing) Regulation 2018 (‘the Regulation').
Andersen Tax LP
The Nigerian Government's drive to boost non-oil revenue is clearly evident with intensified tax audits, increase in treaty networks, promulgation of new Transfer Pricing Regulations and the launch of tax amnesty schemes.
AELEX
The second condition in Section 31(2) of the FIRS Act embodies the knotty issues of tax substitution.
Andersen Tax LP
The Federal Inland Revenue Service recently extended invitations to taxpayers to come forward to reconcile their unutilised Withholding Tax credit balances, with a view to confirming these balances with them ...
Deloitte Nigeria
The World Bank Group (World Bank) on Wednesday, 31 October 2018, published it's 2019 Doing Business Report (the Report).
Andersen Tax LP
We have examined the inflationary trend in Nigeria's economy and its impact on taxation with special consideration for CGT in this article.
Andersen Tax LP
This is also applicable in Nigeria.
Andersen Tax LP
On 24 April, 2008, American movie star, Wesley Snipes, was convicted and sentenced to 3 years in prison for failing to file income tax returns.
Strachan Partners
On 8th October 2018, President Mohammadu Buhari signed an Executive Order called the VOARS (Executive Order Number 008) aimed at combating tax evasion and regularizing offshore assets owned by persons resident in Nigeria ...
Advocaat Law Practice
With elections looming and the need to deliver on earlier campaign promises, there is renewed revenue generation drive by all tiers of government.
Andersen Tax LP
In this piece, we examine the issues surrounding the supposed exercise of the power of substitution by FIRS and whether FIRS is trying to use this to test the limit of its immense powers.
Andersen Tax LP
The Regulations provides a more detailed and clearer distinction between the different types of documents that the taxpayer must submit or keep.
AO2 Law
An internal memo of the Federal Inland Revenue Service dated July 25 1 2018 and captioned "Re: Circular on Withholding Tax Utilisation and K-Card Update Key Deliverables" (Memo) has become public knowledge.
Deloitte Nigeria
The Federal Inland Revenue Service (FIRS), on 22 October 2018, notified the general public that it has commenced issuance of value-added tax certificates to all new and existing taxpayers registered for VAT purposes.
Deloitte Nigeria
The importance of ensuring a conducive environment for businesses cannot be over-emphasized, given their immense contribution to the growth of the national economy.
PwC Nigeria
Following the introduction of the Income Tax (Transfer Pricing) Regulations, 2018 ("TP Regulations") in August, the FIRS today (3 October 2018) ...
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Deloitte Nigeria
The VATA contains provisions which appear to support both the cash and accrual basis of accounting for VAT.
Deloitte Nigeria
Recently, the Federal Inland Revenue Service issued the Income Tax (Transfer Pricing) Regulations, 2018, which replaced the Income Tax (Transfer Pricing) Regulations, 2012.
PwC Nigeria
Following the introduction of the Income Tax (Transfer Pricing) Regulations, 2018 ("TP Regulations") in August, the FIRS today (3 October 2018) ...
Deloitte Nigeria
FIRS recently circularised some banks to recover unpaid taxes from taxpayers that maintain bank accounts with such banks.
AELEX
When the military government in 1999 promulgated the Constitution of the Federal Republic of Nigeria , it included in section 251(1) of the schedule thereof, causes and matters wherein...
Deloitte Nigeria
With the release of the Income Tax (Transfer Pricing) Regulations, 2018 on 27 August 2018, Nigeria took yet another very bold step in its quest towards adopting and implementing recent international multilateral initiatives.
Deloitte Nigeria
Federal High Court (FHC), on 19 June 2018, issued a ruling overturning the decision of Tax Appeal Tribunal (TAT) in the case between Gazprom Oil & Gas Limited (Gazprom or the Company) and Federal Inland Revenue Service.
Deloitte Nigeria
Federal Government of Nigeria (FGN) is poised to change the face of VAT in the power sector with the Value Added Tax (VAT) (Modification) Order 2018 (the Order) ...
Deloitte Nigeria
Small and medium enterprises (SMEs) are the bedrock of the Nigerian economy. They serve as an important source of employment generation, economic dynamism, competition ...
PwC Nigeria
The Federal High Court ("FHC") overruled the decision of the Tax Appeal Tribunal ("TAT") in Gazprom Oil & Gas Nig. Ltd vs. Federal Inland Revenue Service ("FIRS").
Deloitte Nigeria
We therefore advise that all stakeholders commence compliance with the revised WHT rates of 5%.
Deloitte Nigeria
The importance of ensuring a conducive environment for businesses cannot be over-emphasized, given their immense contribution to the growth of the national economy.
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