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In Nigeria Withholding Tax receipts may be used to offset Company Income Tax.

The Federal Government of Nigeria is seeking to tax the realised profits from all foreign exchange transactions of banks in the 2023 financial year.

Nigeria has issued the Income Tax (Country-by-Country Reporting) Regulations 2018 (the CbCR Regulations). The Regulations are part of the implementation plans under Action 13 ...

Have you ever been in a position where you needed to quickly confirm tax rates, filing deadlines, penalty for default, and other tax obligations? Even if you haven't, don't wait until you are stranded.

Typically, a Modified Carry Arrangement is where an oil company finances petroleum operations on behalf of all parties to the contract including the NNPC and the oil company is expected to recover its cost...

Section 27(i) of the Companies Income Tax Act disallows "any expense of any description incurred outside Nigeria for and on behalf of any company except of a nature and to the extent that the Board ("FIRS") may consider allowable".

On Monday, 27 June 2022, the Federal High Court (FHC or "the Court") sitting in Abuja ruled in Accugas Limited (Accugas or "the Company" or "the Plaintiff") and Federal Inland Revenue Service (FIRS) & Attorney General of the Federation.

The 2015 Budget of the Federal Government of Nigeria was presented to the National Assembly on 17 December 2014.

Some life assurance policies contain elements of savings or investment. Such policies often mature during the active lifetime of the policyholder or based on an agreed tenure.

Under the scheme, eligible companies are exempted from income tax for 3 years which may be extended for one or two years.

The taxation of educational institutions has been a thorny issue in the past few years.

Companies that are part of a Multinational Enterprise (MNE) Group and have 31 December as their accounting year end are expected to file their Country-by-Country (CbC) Report and Notification...

The Court of Appeal delivered a judgment on the deductibility of recharges by non-resident companies filing income tax returns under the deemed profit regime.

CMA is a French shipping company that is engaged in the transportation of goods from foreign sellers to recipients in Nigeria and from Nigerian sellers to buyers in other countries.

FIRS has issued a Public Notice imposing 30 November 2021 deadline for expiration of waiver of penalty and interest for companies with outstanding companies income tax returns for 2021 year of assessment.

The Federal Inland Revenue Service (FIRS) has declared a partial tax amnesty commencing from today 5 October 2016.

On 19th May, 2020, the Federal Inland Revenue Service ("FIRS" or "the Service") issued a Public Notice to all Reporting Financial Institutions (RFIs) that it has extended the deadline for filing 2019 Information Returns under the ...