"You never know who is swimming naked until the tide goes out." - Warren Buffet

The Tax Appeal Tribunal ("TAT" or "the Tribunal") sitting in Enugu State on 20 June 2019 delivered a judgment in favour of Nigerian Breweries Plc ("Nigerian Breweries" or "Appellant")

The Tax Appeal Tribunal (TAT) has ruled that it is not bound by the strict rules of evidence contained in the Evidence Act while performing its functions as an administrative tribunal...

Previously, section 3 of the Personal Income Tax Act of 1993 (PITA 1993) – i.e. the charging section – imposed tax on gratuities, and the 3rd Schedule to the Act exempted gratuities

There has been a long standing dispute between the Federal Inland Revenue Service (FIRS) and oil producing companies on the applicable price of crude oil to be used for tax purposes.

In many cases, a new company commencing business in Nigeria can get a tax holiday for about 5 years (known as pioneer status).

But it will take more than luxury tax to plug the hole. We need to simplify the tax system and broaden our tax base.

I have received a number of requests for a copy of the judgment on the above subject.

PwC has helped a company secure a TAT ruling to the effect that a taxpayer's right of objection or appeal is not waived by the fact that the taxpayer has paid the assessment being subsequently disputed.

In 2016, Nigeria was plunged into an economic recession, which lasted from the third quarter of 2016 to the third quarter of 2017, hurting many businesses.

Federal Inland Revenue Service (FIRS) has issued a public notice requesting taxpayers to validate their official email addresses in FIRS' records.

Section 41 of the Personal Income Tax (PIT) Act mandates all persons who are taxable under the PIT Act to file a return of income and claims for every tax year with the tax authority of the state ...

With the release of the Income Tax (Transfer Pricing) Regulations, 2018 on 27 August 2018, Nigeria took yet another very bold step in its quest towards adopting and implementing recent international multilateral initiatives.

With the recent appointment of Mr Babatunde Fowler as the acting Executive Chairman of the FIRS, his primary mandate is to significantly increase Nigeria's tax revenue collection...

In the coming days, we will be bringing you a detailed analysis of the changes contained in the 2017 revised TP Guidelines, as well as their anticipated local impact in the Nigerian tax landscape.

The Circular clarifies that the approved SPM, which are in line with the ECOWAS CET, shall become effective from Monday, 1 May 2023.

It is a truism that no government can function properly without revenue. Revenue helps government meet its numerous responsibilities of improving the quality of life of the citizenry.

The Tax Appeal Tribunal (TAT) on 18 November 2015 held that the Federal Inland Revenue Service should accept tax computations prepared by the Contractor of a Production Sharing Contracts...

As a general rule of Nigerian tax law, if a foreign company has a Nigerian permanent establishment, then the profits of that foreign company that are attributable to that permanent establishment...

Generally the FIRS would seek to use the higher of the OSP and the RP for tax assessments.