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Over time, employers have adopted various practices in the treatment of loans that were granted to their employees for tax purposes.

Recently, the Lagos State Internal Revenue Service (LIRS) issued a Public Notice (PN) disclosing its intention to integrate the LIRS' PID for taxpayers with the national TIN system using taxpayers' BVN.

The Federal Inland Revenue Service has issued a Public Notice.

In a bid to grow Nigeria's tax revenue and raise non-oil tax to GDP ratio from current level of 6% to 15% by 2020, a Voluntary Asset and Income Declaration Scheme (VAIDS) is to be implemented.

On 26 March 2018, President Muhammad Buhari, following approval of the Federal Executive Council, signed the Nigeria- Singapore Double Taxation Agreement (DTA) instrument.

The National Office for Technology Acquisition and Promotion ("NOTAP) was established by the NOTAP Act, Cap. N62 LFN 2004 to monitor the transfer of foreign technology into Nigeria.

On 4 November 2019, President Muhammadu Buhari assented to the Deep Offshore and Inland Basin Production Sharing Contracts Act Amendment Bill (the Act).

Intangibles are key sources of differentiation for businesses and typically, they help drive revenue, manage cost or both.

The Regulations provides a more detailed and clearer distinction between the different types of documents that the taxpayer must submit or keep.

On 20 August 2019, the Tax Appeal Tribunal (TAT or Tribunal) sitting at Enugu, held that a taxpayer may not be liable to taxes (including interest and penalties)

In our previous article, we highlighted some of the proposed amendments/reforms to the various tax laws in operation in Nigeria under the 2022 Finance Bill (the "Bill"). Some of the highlights...

There is a general consensus that the current global and national legal/tax frameworks were not designed for taxation of the digital economy which presents major challenges

Technological advancement has completely changed the way we live. There have been significant improvements in the way goods and services are provided with technological...

A predictable tax environment and consistent tax policy administration are essential for encouraging business growth, attracting foreign investment, and boosting national economic development.

Nigeria is currently experiencing a declining growth rate. The National Bureau of Statistics recently reported a fall in Nigeria's GDP for the second quarter of 2015 at 2.35% down from 3.96% in the first quarter.

In recent years, Nigeria has been developing its Transfer Pricing (TP) regime to align with international standards and combat tax evasion.

From an economic perspective, the COVID-19 global economic crisis has been viewed by many as the worst since World War II.