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  • Article

    Filing Of 2021 Employer's Pay-As-You-Earn Tax Returns

    The annual Employer's Pay-As-You-Earn (PAYE) tax returns ("the Returns") for 2021 is due on 31 January 2022.
    NigeriaTax
    KPMG in Nigeria
    KPMG in Nigeria
  • Article

    FIRS Announces One-Off Waiver Of Late Returns Penalties And Interest Imposed On Established Tax Liabilities

    The Federal Inland Revenue Service has issued a public notice announcing a one-month waiver of all outstanding penalties and interest computed by the TaxPro-Max on established additional liabilities ...
    NigeriaTax
    KPMG in Nigeria
    KPMG in Nigeria
Article

FIRS Directs Taxpayers To Submit Certificate Of Acceptance On Fixed Assets

The FIRS has issued a Public Notice directing companies that purchased QCE worth ₦500,000 and above between 2016 and 2021 years of assessment to submit the Certificates of Acceptance issued by the Industrial Inspectorate Division ...
NigeriaTax
KPMG in Nigeria
KPMG in Nigeria
  • Article

    FIRS Issues Public Notice And Guidelines On Revised Transfer Pricing Regulations And Documentation

    The PN reiterates that the commencement date of the TP Regulations is 12 March 2018.
    NigeriaTax
    Andersen in Nigeria
    Andersen in Nigeria
  • Article

    FIRS Issues Public Notice On Submission Of Certificate Of Acceptance For Claim Of Capital Allowance By Companies

    On 9 May 2022, FIRS issued a Public Notice to all taxpayers, tax consultants and the general public requiring companies that enjoyed capital allowances on QCE of ₦500,000 (and above), between 2016 and 2021 years of assessment, ...
    NigeriaTax
    Andersen in Nigeria
    Andersen in Nigeria
  • Article

    FIRS Releases The Income Tax (Common Reporting Standard) Regulations 2019

    The Federal Inland Revenue Service (FIRS) recently released the Income Tax (Common Reporting Standard) Regulations (The Regulations).
    NigeriaTax
    Deloitte Nigeria
    Deloitte Nigeria
  • Article

    Joint Tax Board Issues Public Notice On Abuse Of Voluntary Pension Contribution Scheme

    The Joint Tax Board (JTB) recently issued a public notice (the Notice) on the perceived abuse of voluntary pension contribution (VPC) scheme by employees as a means of avoiding personal income tax.
    NigeriaTax
    Deloitte Nigeria
    Deloitte Nigeria
  • Article

    LIRS Issues Clarification On The Taxation Of Interest Benefit On Loans Granted To Employees

    Over time, employers have adopted various practices in the treatment of loans that were granted to their employees for tax purposes.
    NigeriaTax
    PwC Nigeria
    PwC Nigeria
  • Article

    Nigeria Considers New Tax Amnesty Framework Through Voluntary Asset And Income Declaration Scheme

    In a bid to grow Nigeria's tax revenue and raise non-oil tax to GDP ratio from current level of 6% to 15% by 2020, a Voluntary Asset and Income Declaration Scheme (VAIDS) is to be implemented.
    NigeriaTax
    Deloitte Nigeria
    Deloitte Nigeria
  • Article

    Taxation Of Crytpocurrency Under The 2022 Finance Bill

    In our previous article, we highlighted some of the proposed amendments/reforms to the various tax laws in operation in Nigeria under the 2022 Finance Bill (the "Bill"). Some of the highlights...
    NigeriaTax
    Pavestones
    Pavestones
  • Article

    Taxing The Digital Economy Based On Significant Economic Presence: A Guide For The Implementation Of The Finance Act, 2019

    There is a general consensus that the current global and national legal/tax frameworks were not designed for taxation of the digital economy which presents major challenges
    NigeriaTax
    Andersen in Nigeria
    Andersen in Nigeria
  • Article

    The Adoption Of Electronic Systems For Tax Administration And Compliance

    Technological advancement has completely changed the way we live. There have been significant improvements in the way goods and services are provided with technological...
    NigeriaTax
    Andersen in Nigeria
    Andersen in Nigeria
  • Article

    The Need For Tax Policy Consistency: The Proposed Abolition Of The RITCS

    A predictable tax environment and consistent tax policy administration are essential for encouraging business growth, attracting foreign investment, and boosting national economic development.
    NigeriaTax
    Andersen in Nigeria
    Andersen in Nigeria
  • Article

    Transfer Pricing Developments In Nigeria: Review Of 2023 And Outlook For 2024

    In recent years, Nigeria has been developing its Transfer Pricing (TP) regime to align with international standards and combat tax evasion.
    NigeriaTax
    Andersen in Nigeria
    Andersen in Nigeria
  • Article

    The Nigerian Oil And Gas Companies (Tax Incentives, Exemption, Remission, Etc.,) Order 2024

    In line with the constitutional power to make relevant executive Orders and the provisions of the Nigerian Oil and Gas Industry Content Development Act, 2010, the President of the Federal Republic of Nigeria enacted the ...
    NigeriaEnergy and Natural Resources
    WTS Blackwoodstone
    WTS Blackwoodstone
  • Article

    Lagos State High Court Rules That The Tax Appeal Tribunal Has Original Jurisdiction To Determine Matters Relating To Personal Income Tax

    On 13 November 2018, in the case between Lagos State Board of Internal Revenue (LIRS) vs Ecoserve Limited (Ecoserve)
    NigeriaTax
    Andersen in Nigeria
    Andersen in Nigeria
  • Article

    Taxation Of Foreign Companies In Nigeria

    Foreign companies are also known as non-resident entities, they can earn incomes in Nigeria through two ways, which shall be briefly discussed below.
    NigeriaTax
    Resolution Law Frim
    Resolution Law Frim
  • Article

    Update On Electronic Filing Of Transfer Pricing Returns And Country-by-Country (CbC) Reports

    The Federal Inland Revenue Service (FIRS) launched its electronic filing solution for Transfer Pricing (TP) returns called the E-TP PLAT 2.0 (the platform) in 2020.
    NigeriaTax
    Andersen in Nigeria
    Andersen in Nigeria
  • Article

    Doing Business In Nigeria

    With a nominal GDP of over $492 billion (2016) and a more than 180-million strong youthful population, Nigeria, is both Africa's biggest economy and the most populous black nation on earth.
    NigeriaCorporate/Commercial Law
    Banwo & Ighodalo
    Banwo & Ighodalo
  • Article

    5 Incentives Available To Startups In Nigeria

    Startups have the potential to play a major role in the growth of developing countries particularly because of their ability to: (i) improve the standard of living in countries through innovation; ...
    NigeriaTax
    Pavestones
    Pavestones
  • Showing 161–180 of 840 results

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