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As simple as this may seem, the profit to be considered for the purpose of EDT has been subject to several interpretations by different stakeholders in the tax space.

The Tax Appeal Tribunal (TAT or "the Tribunal") sitting in Benin recently held, in the case between Bayelsa State Board of Internal Revenue ("BSBIR" or "the Board" or "the Appellant")...

The Tax Appeal Tribunal (TAT or the Tribunal), on 21 August 2019, in the case between Polaris Bank PLC (Polaris or the Appellant) V. Abia State Board of Internal Revenue (ASBIR or the Respondent)

On 19 February 2020, the Tax Appeal Tribunal (TAT or Tribunal), in the case between Prime Plastichem Nigeria Limited (Prime Plastichem or the Company) v Federal Inland Revenue Service

The increased pace of globalisation has not left Nigeria and Nigerian companies out. Consequently, Nigerian companies are increasingly involved in business activities abroad in order to remain competitive in today's business environment.

In recent decades, business reorganization has witnessed a geometric spike in Nigeria as companies have been forced to reorganize operations by regulatory demands...

One of the amendments made by the Finance Act 2023 to the Companies Income Tax Act, Cap C.21, LFN 2004 (as amended) is the introduction of Section 14(6), which makes it mandatory for non-resident companies ...

It was recently reported that some international shipping companies engaged in Nigerian trade may be considering terminating their operations in the country, with the largest economy in Africa...

Milton Friedman, the renowned American economist, had posited that: "inflation is taxation without legislation".

So, we've all heard about the trending Finance Act, 2020 (the "Act") signed into law by President Muhammadu Buhari on Monday 13th January, 2020.

A new Pioneer Status Incentive regime has been introduced.

Transfer Pricing (TP) audits are a key part of the activities of the tax authorities as audits afford them the opportunity to assess the level of taxpayers' compliance to extant TP laws and the arm's length principle.

The Companies and Allied Matters Act (CAMA) 2020 is the primary legislation for the formation of business entities [and non-business entities] and to a great extent, the operations of these business entities in Nigeria.

It is no longer news that Nigeria is currently trying to close its gas export gap. This gap has become more apparent due to a number of factors, including the sanctions on Russia...

The Startup Act aims to create an environment for startups to thrive whilst ensuring Nigeria leads the continent with respect to digital technology.

It amounts to an abuse of the CBA framework to incorporate and sustain clauses that circumvent the provisions of the law based on the union's potential to create or trigger industrial crisis at will.

On 31st December, 2020, President Muhammadu Buhari signed the Finance Bill, 2020 (now Finance Act) into law.