915 results found

Versatility remains a strong point for every business. In a nutshell, the term ‘versatility' refers to the ability to adapt or be adapted to many different functions or activities; a trait effectively demonstrated by Taxaide.

On 14 January 2019, the High Court of the Federal Capital Territory held that LGCs in the FCT cannot impose unconstitutional taxes and levies on companies, in the case between AEDC v. KAC.

The FIRS has issued a Public Notice directing companies that purchased QCE worth ₦500,000 and above between 2016 and 2021 years of assessment to submit the Certificates of Acceptance issued by the Industrial Inspectorate Division ...

Commencement and cessation rules - The FIRS clarified that a company that commences business should apply the Preceding Year Basis (PYB)

On 9 May 2022, FIRS issued a Public Notice to all taxpayers, tax consultants and the general public requiring companies that enjoyed capital allowances on QCE of ₦500,000 (and above), between 2016 and 2021 years of assessment, ...

The Federal Inland Revenue Service (FIRS) recently released the Income Tax (Common Reporting Standard) Regulations (The Regulations).

The Federal Inland Revenue Service ("FIRS" or "the Service") recently issued a Public Notice informing the public of its intention to automate Value Added Tax (VAT) ...

The Federal Inland Revenue Service (FIRS or "the Service") has recently issued an official Public Notice introducing the National E-Invoicing Regime through the Electronic Fiscal System (EFS) specifically designed for Large Taxpayers.

In a bid to grow Nigeria's tax revenue and raise non-oil tax to GDP ratio from current level of 6% to 15% by 2020, a Voluntary Asset and Income Declaration Scheme (VAIDS) is to be implemented.

The National Office for Technology Acquisition and Promotion ("NOTAP) was established by the NOTAP Act, Cap. N62 LFN 2004 to monitor the transfer of foreign technology into Nigeria.

On 4 November 2019, President Muhammadu Buhari assented to the Deep Offshore and Inland Basin Production Sharing Contracts Act Amendment Bill (the Act).

On 20 August 2019, the Tax Appeal Tribunal (TAT or Tribunal) sitting at Enugu, held that a taxpayer may not be liable to taxes (including interest and penalties)

There is a general consensus that the current global and national legal/tax frameworks were not designed for taxation of the digital economy which presents major challenges

Technological advancement has completely changed the way we live. There have been significant improvements in the way goods and services are provided with technological...

A predictable tax environment and consistent tax policy administration are essential for encouraging business growth, attracting foreign investment, and boosting national economic development.

Nigeria is currently experiencing a declining growth rate. The National Bureau of Statistics recently reported a fall in Nigeria's GDP for the second quarter of 2015 at 2.35% down from 3.96% in the first quarter.

As the family business grows through various phases from its start-up to maturity, the need to keep proper records is the crux of its success…or failure.