201 results found

The Finance Act 2023 (FA23) was signed into law by the former President Muhammadu Buhari on 28 May 2023, a day before the end of his administration. The Act is to take retroactive...

In 2011, the Federal Government of Nigeria (FGN), in a bid to boost investment in bonds in Nigeria, issued the Companies Income Tax (Exemption of Bonds and Short-Term Government Securities) Order...

On 31st December 2021, President Muhammadu Buhari signed the Finance Bill, 2021 (now referred to as ‘‘Finance Act, 2021'' or FA, 2021) into law.

The Nigerian tax system consists of a fragmented and complicated set of tax laws that fall short in terms of administrative efficiency and effectiveness, making it difficult to achieve...

As the saying goes, if you fail to plan, then you plan to fail.

The Finance Act 2023 (the "Act") was signed into law on May 28, 2023, but took effect on September 1, 2023. Amongst other things, the Act expands the definition of "chargeable assets" under the Capital Gains Tax Act...

In the exercise of his powers under the various income tax laws, the Minister of Finance and Coordinating Minister of the Economy (the "Minister") issued the Deduction of Tax at Source...

The decision of the FHC reaffirms that amendments to tax laws cannot be applied retroactively, except where the law expressly states so.

On 3rd June 2021, the Federal Inland Revenue Service (FIRS) issued an information circular on Clarifications on the Provisions of the Capital Gains Tax (CGT) Act

Pursuant to changes introduced to the tax regime under the Finance Act 2020 ("Finance Act"), the Federal Inland Revenue Service ("FIRS") recently issued two Information Circulars...

On June 26, 2025, President Bola Ahmed Tinubu signed into law a historic package of tax reform legislation, marking the most comprehensive overhaul of Nigeria's fiscal architecture in decades.

In the twilight of his administration on May 28, 2023, Nigeria's immediate past President, Muhammadu Buhari, signed the Finance Act 2023 (the "Act") into law.

The Supreme Court's recent decision in A.G. Abia State v. Imo Trans. Co. Ltd. has reignited debate over the constitutional validity of Nigeria's Taxes and Levies (Approved List for Collection) Act, 1998. This article examines whether the Act, originally promulgated as a military decree to combat multiple taxation, can withstand constitutional scrutiny given its alleged supremacy claims over the Constitution and potential conflicts with Nigeria's federal division of tax powers.

Nigeria's tax-to-GDP ratio at 10.8% as at 2021, is one of the lowest amongst countries of similar economic size . It is also below the International Monetary Fund (IMF) recommended ratio of 12% and

The taxation of capital gains has historically played a modest but strategically important role within Nigeria's fiscal architecture. Under the pre-existing regime, the Capital Gains Tax (CGT) framework was governed primarily by the Capital Gains Tax Act (CGTA), which imposed tax on gains arising from the disposal of chargeable assets

In June 2024, the Federal Government of Nigeria through the Minister of Finance and Coordinating Minister of the Economy, Adebayo Olawale Edun issued the Deduction of Tax at Source (Withholding) Regulations, 2024...

In Nigeria, Tax is a very important aspect of our internal revenue generation and as we all know, Micro, Small, and Medium Enterprises (MSMEs) contribute a huge part of tax generation in Nigeria...