The Lagos State Internal Revenue Service (LIRS) on 30 May 2019 issued a Public Notice informing the public of the new Tax Identification Number (TIN) which will be issued to every individual.

Get the highlights of the recently signed Budget (2016 Appropriation Act) of the Federal Government of Nigeria and the Medium Term Expenditure Framework (MTEF).

The national tax policy review committee has completed its assignment and yesterday submitted the revised National Tax Policy (NTP) to the finance minister.

The Scheme which originally lasted for 9 months and expired on 31 March 2018 will now run till 30 June 2018.

The proposed law to compel private companies to become public entities is disguised indigenisation particularly to foreign investors.

On 14 June 2017, the Federal Executive Council (FEC) approved a memo submitted by the Minister of Finance seeking Nigeria's inclusion as a signatory...

Nigeria's Revenue Service has issued comprehensive guidelines clarifying how virtual assets are taxed under existing legislation. The framework addresses taxation for individuals and businesses engaged in cryptocurrency trading, virtual asset service providers, and peer-to-peer marketplaces. A notable feature is the requirement to compute gains in US dollars rather than Naira.

The Nigerian Stock Exchange (NSE) has issued Rules which impose certain requirements on listed companies regarding any transactions with related and other interested parties.

The Federal Government of Nigeria approved the eligibility of 27 additional industries for possible grant of tax holiday under the pioneer status incentive at the Federal Executive Council meeting...

To the extent that the foreign provider is not carrying on business in Nigeria, there is no legal obligation to register for, or charge Nigerian VAT.

On the 21st and 22nd March 2016, the National Economic Council held a strategy retreat at the state house in Abuja.

On 22nd January 2016, the Tax Appeal Tribunal (TAT) sitting in Lagos reinforced the principle established by the Court of Appeal in FIRS v Halliburton...

Tourist Company of Nigeria Plc ("TCN" or the "Appellant") engages in the gaming and hospitality business including the operation of a casino in Nigeria.

In a recent judgement, the Tax Appeal Tribunal (TAT) has ruled in favour of a private educational institution that it is not liable to income tax on its profit.

The Federal Inland Revenue Service (FIRS), on 14 August 2019, issued a public notice informing companies, particularly those in the FMCG sector.

On 5 October 2015, the Organisation for Economic Cooperation and Development (OECD) released its final Base Erosion and Profit Shifting (BEPS)...

For decades, Nigeria has relied on oil as its primary source of revenue.

The Organisation for Economic Cooperation and Development (OECD) on 18 December 2017 released the latest edition of its Model Tax Convention incorporating various changes developed...

Now that Britain has voted to leave the EU, analysts are trying to figure out the implications of Brexit for not only the UK/EU but the global economy.

We therefore advise that all stakeholders commence compliance with the revised WHT rates of 5%.