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On 1st July 2021, the Federal Inland Revenue Service (FIRS or "the Service") issued a Public Notice informing taxpayers of its grant of extension to the deadline for filing...

On 21st April, 2021, the Federal Inland Revenue Service (FIRS or "the Service") issued a Public Notice to all taxpayers

On 17 December 2019, the Federal Inland Revenue Service (FIRS) issued a Public Notice notifying all taxpayers (individuals, partnerships, enterprises, corporate organisations, ministries, departments and agencies)

The Federal Inland Revenue Service (FIRS) recently released the Income Tax (Common Reporting Standard) Regulations (the Regulations), which is effective from 1 July 2019.

The Lagos State Internal Revenue Service (LIRS) recently issued a public notice to all employers, company owners and their representatives, employees, ...

Statutorily, under the Personal Income Tax Act (PITA) Cap P8 LFN 2004 (as amended), every employer is under obligation to file employers' tax returns (Form H1)

First, let me start by wishing you all a Splendid 2015!

On 8th October, 2021, the Organization for Economic Co-operation and Development (OECD) announced that 136 jurisdictions out of 140 members of the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting (BEPS)

The Nigerian government established the Nigerian Export Promotion Council (NEPC) in 1976 with the aim of diversifying the productive base of the Nigerian economy away from oil and fostering a market-oriented...

Tax authorities previously focused only on PAYE tax but are now asking questions regarding other incomes from rental, 'side-hustle', trading or professional activities that individuals need to declare.

Donations in support of causes, charities or designated funds for charitable purposes go a long way in building communities and supporting the less-privileged in our society.

The Nigeria Revenue Service (Establishment) Act, 2025 marks a significant shift in the country's tax administration framework. The Act formally rebrands the FIRS as the NRS, establishing it as the central authority for tax administration in Nigeria.

The Federal Inland Revenue Service (FIRS) has issued the Income Tax (Common Reporting Standard) Regulations, 2019 (CRS Regulations).

With the growing digitalization of businesses, it is becoming increasingly evident that the existing international rules that allocate taxing rights among countries are largely ineffective.

The Nigerian tax landscape has continued to witness significant changes, with the most recent being the presidential assent to the Finance Bill 2019 (now Finance Act) on 13 January 2020.

Following our initial newsletter on the Nigeria Tax Act, we note that some provisions in the harmonised version used to prepare the newsletter are different from the gazette which has now become publicly available.

The Section 83b election is a provision under the Internal Revenue Code (IRC) that gives an employee, or startup founder, the option to pay taxes on the total fair market value of restricted stock at the...