The year 2015 will be marked as the year of slow economic growth and haphazard fiscal and monetary policies due in part to the uncertainties brought about by the change in government.

The judgment also sustained the existing decision of the court on "Excess Dividend Tax" on the basis that the dividends in question were paid out of profits which had not been taxed.

The FIRS expressed concern that nonresident companies do not file full tax returns as required by law.

In a recent decision, the Tax Appeal Tribunal (TAT) says the tax authority must act reasonably in the exercise of its discretion to assess a taxpayer based on deemed income (or best of judgment assessment).

The shift to non-oil revenue must be a properly managed paradigm shift and not the exchange of one extreme dependence for another

The Federal Government of Nigeria (FGN) concluded the negotiation of Double Taxation Agreements (the DTAs) with the Republic of Ghana and the Republic of Cameroon on 26 July 2018 and 3 August 2018, respectively.

Nigeria has formally released the Income Tax (Country-by-Country Reporting) Regulations, 2018

The double tax agreement (DTA) between Nigeria and Spain had been awaiting ratification by the legislature for about nine years.

The Organisation for Economic Cooperation and Development (OECD), on 18 December 2017, released the 2017 edition of its Model Tax Convention on Income and Capital (MTC 2017).

The OECD has been leading the efforts to combat aggressive tax avoidance through base erosion and profit shifting (BEPS) especially by multinational companies.

On September 16, the OECD published the first set of recommendations in connection with its Base Erosion and Profit Shifting (BEPS) action plan.

The Tax Appeal Tribunal (TAT) has ruled that the payment made by an oil producing company to flare gas in the course of crude oil production is not a fine to be disallowed for tax purposes...

A new Bill to impose a Communication Service Tax (CST) is being introduced by the National Assembly.

The Federal Inland Revenue Service (FIRS) recently released the Income Tax (Transfer Pricing) Regulation 2018 (‘the Regulation').

The recently passed Finance Act, 2021 has widened the scope of taxes paid by companies.

This is an update to our tax alert of 16 August 2016, in which we notified taxpayers and other stakeholders of the inauguration of the National Tax Policy...

This follows from the deposit of the fifth instrument of ratification by Slovenia today 22 March 2018.

ingapore has ratified the Double Tax Agreement (DTA) earlier signed between the country and Nigeria. See link to our previous tax alert.

On Friday, 12 November 2021, the Tax Appeal Tribunal Lagos Zone decided in Seplat Petroleum Development Company Plc vs the Federal Inland Revenue Service, that the Appellant's claim of five (5) years tax holiday ...

The Tax Appeal Tribunal Lagos Zone has ruled, in NPF Microfinance Bank PLC and Federal Inland Revenue Service, that bad debts (which have been proven to be bad) are allowable for tax deductions...