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The House of Representatives, in exercise of its powers under the Nigerian Constitution, has set up an ad-hoc committee (the Committee) to investigate perceived abuse of pioneer status tax incentive...

On March 31, 2021, the Comptroller-General of the Nigerian Immigration Service (CGNIS) announced that foreign nationals working in Nigeria will be required to provide evidence of tax remittance...

The tax landscape in Nigeria is changing fast and efforts at bringing taxable individuals into the tax net is gaining momentum.

On 25 January 2019, President Muhammadu Buhari signed Executive Order (EO) 007 on the Road Infrastructure Refurbishment and Development Tax Credit Scheme (Scheme).

Section 55 of the Personal Income Tax Act (PITA) 2011 (as amended) contains a limitation period within which additional assessments must be raised.

Nigeria has introduced a standardised framework for the taxation of virtual assets through the NRS Virtual Asset Tax Guidelines. This comprehensive breakdown examines who the guidelines apply to...

In 2021, the Nigerian transfer pricing (TP) space witnessed significant changes which are expected to have far-reaching effects on tax compliance for both local and multinational enterprises.

The United States House Ways and Means Committee has released a 429-page "Tax Cuts and Job Act of 2017" bill.

On Thursday 24 May 2018, the OECD released its first annual peer reviews for 95 countries who have expressed their commitment to automatically exchange taxpayer information through the exchange of CbC reports.

Recently, the Federal Inland Revenue Service ("FIRS") issued a Public Notice titled "Payment of Outstanding Foreign Currency Tax Liabilities in Naira" (the "Notice")...

The petroleum shipping industry is an international industry, whose operations traverse the length and breadth of the world's waterways.

On 5 June, the G7 Finance Ministers announced an agreement in which the participating countries committed to new taxing rights that allow countries to reallocate some portion of profits...

Since the advent of the internet and advancement of technology, the conduct of business worldwide has seen significant changes.

On 18 June 2019, the Tax Appeal Tribunal (TAT or Tribunal) held that the Lagos State Internal Revenue Service (LIRS) could not hold employers accountable for taxes arising from withdrawals of Voluntary Pension Contribution

Prior to the enactment of the Finance Act, 2019, Section 13 of the Companies Income Tax Act as amended, provided the basis for the taxation of the profits of non-resident companies in Nigeria.

The use of shares options for the payment of goods and services is becoming increasingly common.

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.