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The Court of Appeal (CoA), in December 2018, upheld the ruling of Federal High Court (FHC) on the liability of educational institutions to pay companies income tax (CIT).

The federal tax authority in Nigeria, the Federal Inland Revenue Service (FIRS), will be introducing Tax Account Codes (TACs) from 1 January 2025 to enhance the filing and review of tax returns submitted by taxpayers.

In this article, we discuss the provisions of the tax laws as they pertain to the administrative powers of the FIRS and the compliance requirements of taxpayers registered as a Business name with the Corporate Affairs Commission (CAC).

On 28 May 2023, the former President, Muhammadu Buhari, GCFR, signed the Finance Bill, 2023 into law as Finance Act, 2023 ("the Act").

Global minimum tax also known as Global Anti-Base Erosion Model, provides for a coordinated and comprehensive system of minimum taxation, aimed at ensuring that large multinational enterprise groups pay a minimum level of tax ...

The UK government recently announced significant tax reforms that are sending ripples through global wealth corridors, particularly among High-Net-Worth Individuals (HNWIs) across the world —including Nigeria.

Nigeria currently operates a self-assessment system. Prior to 1991, tax administration in Nigeria was based exclusively on assessments made by revenue authorities.

Perhaps, what is required in Nigeria is categorization of the educational institutions into proprietary educational institutions and not-for-profit educational institutions.

It is not uncommon for countries to reach bilateral or multilateral agreements to protect their citizens from multiple taxation on the same income, ease international relations and encourage global mobility.

In our previous article, we highlighted some key provisions of the Nigeria Finance Bill 2022 (the "Bill"). In a final move by former President Mohammadu Buhari, the Bill...

The Nigerian government introduced the Nigerian Tax Bill 2024 as a part of the ongoing tax reform in the country, with the aim of unifying the fiscal legislation governing taxation in the country for simplicity and transparency, ...

In Nigeria, the adherence to personal income tax obligations by employers is a cornerstone of corporate fiscal responsibility. This legal obligation as outlined in the Personal Income Tax Act...

The year 2025 marked a pivotal period in Nigeria's regulatory and business landscape, with notable reforms introduced across the insurance, capital markets, and tax sectors.

On February 28, 2024, President Bola Ahmed Tinubu issued the Oil and Gas Companies (Tax Incentives, Exemption, Remission. Etc.) Order 2024 (the "Order") which granted specific tax...

The issuance of a final and conclusive tax assessment sometimes signify a sense of closure for both a taxpayer and a tax authority with respect to a particular tax dispute.

The Lagos State Internal Revenue Service ("LIRS") by its public notice of 27th September, 2017 issued guidelines towards regulating the treatment and taxation of employee loan in Lagos State.

Value Added Tax (VAT) is a consumption tax levied on goods and services in Nigeria.