The Court of Appeal (COA) sitting in Abuja, today, 10 September 2021, ordered both Rivers and Lagos States to maintain status quo on the collection of Value Added Tax.

Section 41 of the Personal Income Tax Act (PITA) Cap P8 LFN 2004 (as amended) requires all individuals to submit their individual tax returns (Form A) with the relevant tax authority.

The timeline is not later than 31 January of every year.

"Those who cannot learn from history are doomed to repeat it." - George Santayana

The Federal Executive Council has approved the inclusion of 27 new industries/products as eligible for pioneer status incentive, a corporate income tax exemption for up to 5 years.

Stakeholders are expected to take advantage of this announcement to present tax disputes to the appropriate tribunal.

By law, certain tax liabilities such as VAT and withholding taxes must be paid in the currency of transaction. This means for instance, if a fee was paid in USD then the applicable VAT ...

The tax amnesty recently introduced by the Federal Inland Revenue Service came to a close on 24 November 2016.

The Federal Inland Revenue Service (FIRS) issued an Information Circular on 14th June 2024, to clarify the tax treatment of foreign exchange (forex) transactions (‘the Circular').

Section 26 of the FIRSEA was also amended to mandate taxpayers to grant the FIRS access to relevant information in the taxpayers' devices or cloud computing facilities.

Mr Babatunde Fowler, Chairman of the Federal Inland Revenue Services of Nigeria has been elected Chairman of Council of the African Tax Administration Forum (ATAF) for 2016-2018.

The Lagos State Internal Revenue Service (LIRS) has launched a new eTax system, a digital, end-to-end, multi-channel solution for tax filing and payments

... then look no further. I am happy to share the updated version of our Nigeria Tax Data Card.

The Organisation for Economic Cooperation and Development (OECD) on Thursday 25 April 2019, published the full version of its 2017 Model Tax Convention on Income and Capital, the tenth edition.

The Tax Appeal Tribunal, delivered a ruling on the applicability of value added tax and withholding tax on reimbursable expenses in the case between Brasoil Oil Services Company Limited and FIRS.

On 20 June 2019, the Tax Appeal Tribunal (TAT), in the case between Nigeria Breweries Plc and Abia State Board of Internal Revenue Service (Respondent), ruled that gratuity is not liable to personal income tax.

"In business as in life, you don't get what you deserve, you get what you negotiate." - Karrass, Chester L.

As a result of the low profit margin in the construction industry, resulting in perpetual excess WHT credits, the former minister of finance granted a reduction in WHT rate from 5% to 2.5%.

The federal government of Nigeria today announced the extension of the deadline for filing returns under the Voluntary Assets and Income Declaration Scheme by 3 months.

The Brexit vote has not only shocked the EU and the rest of the world, it also left many citizens and residents of the United Kingdom themselves "fantastically stunned".