201 results found

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...

Family-owned businesses across the world desire a successful continuity of their business from one generation to the another. Available statistics however suggests that 70% of family-owned businesses...

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 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...

The Deduction of Tax at Source (Withholding) Regulation, 2024, was issued by the Federal Ministry of Finance, on July 1, 2024. It stipulates the rules for deducting taxes from payments...

The immediate past president, Muhammadu Buhari signed Finance Act, 2023 (the Act) into law on 28 May 2023, which took effect from 1 May 2023.

In exercise of powers conferred on him by various tax statutes, the Minister of Finance and Coordinating Minister of the Economy has issued the Deduction of Tax at Source (Withholding) Regulations 2024.

Funding of Startups globally hit an all-time high in 2021 with a total investments of approximately $454 billion recorded in just the 1st to 3rd quarter; as compared to investments recorded by Startups in 2020.

On Monday 13 January 2020, President Muhammadu Buhari signed the Finance Bill 2019 into law.

On 31 December, 2021, President Muhammadu Buhari signed the Finance Bill, 2021 (now Finance Act, 2021) into law. The Finance Act, 2021 (the Act), which was signed into ...

Following the enactment of Nigeria's comprehensive tax reform legislation in June 2025, the Nigeria Revenue Service (NRS) has, on 3 February 2026, provided clarification on the effective dates and application...

The case between the Attorney General of River State v Federal Inland Revenue Service (FIRS) and Anor has become a highly controversial one.

Over the past three years, Nigeria has witnessed the enactment of annual Finance Acts, along with the National budget. To date, the Finance Acts (2019, 2020 and 2021) have introduced landmark amendments...

In line with the tradition of the current administration, the Finance Bill 2021 (the "Bill") was recently presented before the legislature for passage into law. Similar to its predecessors...

Paragraph 26 of the Third Schedule to the Personal I e Tax Act (PITA), 2011 as amended exempts "any compensation for loss of employment" from tax under the PITA.

Other than fund domicile, perhaps the most important consideration when setting up a venture capital fund in Nigeria is tax planning and tax leakage avoidance. For angel investors, venture capital funds, private equity...