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On 29th January, 2021, the Lagos Internal Revenue Service ("LIRS" or "the Service") issued a Public Notice informing taxpayers of its grant of extension to the deadline for filing 2020 annual employees Pay-As-You-Earn (PAYE) tax returns by two weeks.

In order to give taxpayers ample time to file their tax returns amid the lockdown, the LIRS had in March 2020 issued a public notice extending the filing deadline from 31 March to 30 June 2020.

The profits of companies (other than upstream petroleum companies with Oil Prospecting Licences who are subject to additional hydrocarbon tax) are subject to companies' income tax (CIT).

The end of the year typically signals a winding down of activities by most firms. However December 2018 saw an unprecedented flurry of activities by Nigerian taxpayers to meet the 31 December deadline

In our last edition of InsideTax publication, we explored the concepts of tax avoidance and tax evasion and the impact of tax leakages on government revenue.

The Federal Inland Revenue Service (FIRS) has issued a Public Notice extending the deadline for the filing of 2023 Companies Income Tax (CIT) returns and payment of relevant tax liabilities...

The COVID-19 pandemic which is currently affecting countries across the world has once again shown how inter-connected the global economy is. What started as an outbreak in a province in China

One notable highlight under the New Tax Act is the introduction of Controlled Foreign Company (CFC) rules, which are designed to prevent Nigerian companies...

The current economic landscape has forced several State Governments hitherto dependent on Federal Government allocations to look inwards for revenue.

The Federal Inland Revenue Service (FIRS) audited the tax returns of Ecobank Nigeria Plc ("Ecobank", "the company" or the "Bank") relating to the 2015

The Nigerian Investment Promotion Council (NIPC) recently released its Pioneer Status Incentive (PSI) Report for the fourth quarter of 2018.

Federal Inland Revenue Service (FIRS) on Monday, 19 August 2019, issued a public notice mandating companies with lien on their accounts to regularise their tax status

Lagos State Internal Revenue Service has issued a public notice regarding the taxation of non-nationals with temporary work permit.

The Federal Inland Revenue Service (FIRS) has issued a Public Notice to withdraw its May 6, 2021 suspension (please refer to our Tax Alert Issue No.5.4 of 24 May 2021 for details)...

The FIRS has issued a Public Notice informing all taxpayers, especially non resident companies carrying on business in Nigeria, to submit full income tax returns as required by law.

On 25 March 2020, the House of Representatives (HoR) of the Federal Republic of Nigeria passed the Emergency Economic Stimulus Bill.

Nigeria's House of Representatives has proposed a Bill for an Act to provide for tax relief, suspension of import duty on selected medical goods and deferral of residential mortgage obligations.