915 results found

Tax authorities previously focused only on PAYE tax but are now asking questions regarding other incomes from rental, 'side-hustle', trading or professional activities that individuals need to declare.

tax evasion is so pervasive, it is more difficult to find those who have paid the right amount of tax than evaders. It's like hiding in plain sight or at best behind a single finger.

The Federal Inland Revenue Service (FIRS) and some State Internal Revenue Service (SIRS), in recent times, have been issuing letters to Nigerian banks, appointing them as agents of collection...

The tax authorities are seeking to limit the amount that can be made by an employee as VC to one-third of the employee's salary based on the provisions of S.5(7) of the Labour Act.

Donations in support of causes, charities or designated funds for charitable purposes go a long way in building communities and supporting the less-privileged in our society.

The Federal Inland Revenue Service (FIRS) has issued the Income Tax (Common Reporting Standard) Regulations, 2019 (CRS Regulations).

One thing that makes legal and statutory interpretations interesting is the room for flexible interpretation of the same provisions by different bodies using different rules of interpretation.

The Nigerian tax landscape has continued to witness significant changes, with the most recent being the presidential assent to the Finance Bill 2019 (now Finance Act) on 13 January 2020.

Following our initial newsletter on the Nigeria Tax Act, we note that some provisions in the harmonised version used to prepare the newsletter are different from the gazette which has now become publicly available.

The Federal Inland Revenue Service on December 1, 2020, issued a public notice titled "Public Notice on the Recovery of Outstanding Taxes from Taxpayers".

The World Bank Group (World Bank) on Wednesday, 31 October 2018, published it's 2019 Doing Business Report (the Report).

I'm not exactly a fan of this phrase.

On 13 November 2018, in the case between Lagos State Board of Internal Revenue (LIRS) vs Ecoserve Limited (Ecoserve)

The exercise of the powers in Section 31 FIRS Act marks a new approach towards tax enforcement in Nigeria.

The Honourable Minister of Finance, Budget and National Planning ("the Minister") recently issued the Value Added Tax ("VAT") Act (Modification Order), 2020 ("the Order"), which is effective from 3rd February, 2020.

The Federal Executive Council (FEC) of the Federal Government of Nigeria (FGN) on Wednesday, 11 September 2019, approved a 50% increase in the Value Added Tax (VAT) rate applicable...

The Nigeria Tax Act 2025 has re-affirmed the legal definition of significant economic presence as a basis for taxation of non-resident persons doing business in Nigeria.