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Section 55 of the Personal Income Tax Act (PITA) 2011 (as amended) contains a limitation period within which additional assessments must be raised.

The Tax Appeal Tribunal sitting in Lagos, on 20 October 2021 ruled, in the case between Multichoice Nigeria Limited and Federal Inland Revenue Service, that the amount deposited by the Appellant with the FIRS ...

The appellant in this appeal invests in and develops commercial and residential real properties which are leased out to generate income through rents.

A Nigerian subsidiary of a South African entity entered into an agreement to provide marketing services in Nigeria to promoted the "Fund" of the South African entity.

Various reports estimate that developing countries lose trillions of US dollars in much needed revenue to tax evasion and aggressive avoidance schemes.

Nigeria has introduced a standardised framework for the taxation of virtual assets through the NRS Virtual Asset Tax Guidelines. This comprehensive breakdown examines who the guidelines apply to...

The Federal Inland Revenue Service (FIRS) has issued a public notice announcing a full waiver of penalties and interest on outstanding tax liabilities.

In 2021, the Nigerian transfer pricing (TP) space witnessed significant changes which are expected to have far-reaching effects on tax compliance for both local and multinational enterprises.

The National Investment Promotion Commission (NIPC) has released the gazette list of Pioneer industries and products.

As the sun gradually sets on the Voluntary Assets and Income Declaration Scheme (VAIDS/Scheme), the Minister of Finance has reiterated government's resolve to stick to the March 31st, 2018 deadline.

Federal Government of Nigeria (FGN) is poised to change the face of VAT in the power sector with the Value Added Tax (VAT) (Modification) Order 2018 (the Order) ...

The United States House Ways and Means Committee has released a 429-page "Tax Cuts and Job Act of 2017" bill.

I vividly remember six years ago when I received a call from a former colleague that someone wanted to meet with me to discuss a business opportunity. At the time, I was an Associate...

The Federal Inland Revenue Service (‘FIRS'), recently introduced new measures to improve the experience of taxpayers during tax audits.

The Senate, yesterday, passed a bill to enact the Arbitration and Mediation Act to provide for a unified legal framework for the settlement of commercial disputes.

The Lagos State Internal Revenue Service recently issued a Public Notice, advising taxpayers and the general public of modifications made to the process for conducting Tax Audit and Reconciliation Committee meetings.

On the 19th of October, 2022 President Muhammudu Buhari signed the Nigerian Startup bill into law to be known as the Nigerian Startup Act 2022.

Since the advent of the internet and advancement of technology, the conduct of business worldwide has seen significant changes.