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Article
NSE To Resume Charging VAT On Commissions Applicable To Capital Market Transactions
The Circular reverses the existing incentives which exempt Value Added Tax (VAT) on all commissions applicable to capital market transactions.
NigeriaFinance and Banking
Deloitte Nigeria
Article
Nigeria Releases New Executive Order To Combat Money Laundering And Tax Evasion
The Federal Government of Nigeria, on 8 October 2018, signed a new Executive Order 008 (Order) backing the implementation of the Voluntary Offshore Assets Regularisation Scheme (VOARS or the Scheme), aimed at combating money laundering and tax evasion.
NigeriaGovernment, Public Sector
Deloitte Nigeria

LIRS Issues Public Notice On Treatment Of Savings Element On Insurance Premium

The Lagos State Internal Revenue Service (LIRS) has issued a public notice (the Notice) to clarify the treatment of savings element on insurance premium.

NigeriaInsurance

Deloitte Nigeria

FIRS Introduces New Online Tax Administration Solution

On 4th June, 2021, the Federal Inland Revenue Service (FIRS or "the Service") issued a Public Notice ("the Notice") informing the public of its introduction of an online Tax Administration Solution (TaxPro-Max) for ease of tax compliance.

Andersen in Nigeria

FIRS To Pursue Directors And Management Staff For Outstanding Corporate Tax Liabilities

Federal Inland Revenue Service (FIRS) on Monday, 19 August 2019, issued a public notice mandating companies with lien on their accounts to regularise their tax status

Deloitte Nigeria

Importance Of Financial And Tax Management For Startups

Startup businesses all over the world are experiencing a boom in various industries ranging from manufacturing, transportation, hospitality and even the financial industry

Andersen in Nigeria

LIRS Issues Public Notice On Taxation Of Foreigners With Temporary Work Permit

Lagos State Internal Revenue Service has issued a public notice regarding the taxation of non-nationals with temporary work permit.

Deloitte Nigeria

Nigerian Resident Branches And Subsidiaries Of Foreign Multinational Enterprises To Comply With Local Filing Obligation Under Regulation 4 Of The Income Tax (Country-by-Country Reporting) Regulations, 2018

The Federal Inland Revenue Service (FIRS) has issued a Public Notice to withdraw its May 6, 2021 suspension (please refer to our Tax Alert Issue No.5.4 of 24 May 2021 for details)...

KPMG in Nigeria

Non Resident Companies To File Full Tax Returns Effective From 2015 Tax Year

The FIRS has issued a Public Notice informing all taxpayers, especially non resident companies carrying on business in Nigeria, to submit full income tax returns as required by law.

Tax Appeal Tribunal Rules That Mortgage Institutions Are Not Liable To Value Added Tax

On 19 June 2019, the Tax Appeal Tribunal (TAT or Tribunal) held that mortgage institutions are not liable to pay Value Added Tax (VAT) on services rendered within the scope of their business.

Andersen in Nigeria

Tax Appeal Tribunal Says Withholding Tax Is Due On Dividends From Gas Profits

The Tax Appeal Tribunal (TAT) has ruled in favour of the Federal Inland Revenue Service to levy withholding tax on dividends paid out of gas profits by upstream petroleum companies.

The Petroleum Shipping Industry & The Burden Of Tax Compliance In Nigeria

The petroleum shipping industry is an international industry, whose operations traverse the length and breadth of the world's waterways.

NigeriaTransport

Andersen in Nigeria

A Review Of The Nigerian Double Taxation Treaty Framework

Based on international trade convention, every country is allowed to adopt laws, rules and regulations that govern its trade relationships with other countries

Andersen in Nigeria

Andersen Celebrates Two Years In Nigeria

In July 2017, the Andersen name debuted in Africa when Andersen Tax launched in Lagos and Abuja in Nigeria. Today, as we celebrate our two-year anniversary

Andersen in Nigeria

Another Earmarked Tax Coming Through NYSC Trust Fund Establishment Bill, 2021

The National Assembly of the Federal Republic of Nigeria recently passed the National Youth Service Corps (NYSC) Trust Fund (Establishment) Bill, 2021 ("the Bill")...

KPMG in Nigeria

Are Small Businesses In Tax & Regulatory Wilderness?

The economy of any nation reflects the activities of a mix of economic agents or players interacting at different levels to generate goods and services.

Deloitte Nigeria

Court Nullifies Provisions In Rules/Practice Directions Prescribing Payment Of Deposit...

The judgment is anchored on the need to ensure fair hearing and guarantee the constitutional right to appeal.

KPMG in Nigeria

COVID-19 Update: FIRS Grants Additional Extension On Waiver Of Interests And Penalties On Tax Debts

8th July, 2020, the Federal Inland Revenue Service ("FIRS or the Service") issued a Public Notice informing taxpayers of its decision to grant additional extension on the waiver of penalties

Andersen in Nigeria

Double Taxation Avoidance Treaty With Qatar: What Is In It For Nigeria?

The federal government of Nigeria and Qatar have signed an agreement for the avoidance of double taxation on income and capital gains for investments between the two countries.

Expiration Of Tax Exemption Period For Bonds And Short-Term Government Securities

In December 2011, the Federal Government (FG) issued the Companies Income Tax (CIT) (Exemption of Bonds and Short-Term Government Securities) Order, 2011 and Value Added Tax...

KPMG in Nigeria

Showing 361–380 of 1627 results

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