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They are subject to the exceptions stated in Part 6, Paragraph 3 of the Regulations.

The petroleum sector remains the mainstay of the Nigeria economy, contributing significantly foreign exchange earnings, our GDP and revenue

The President of the Federal Republic of Nigeria, Muhammadu Buhari, recently signed an executive order titled: "Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme Order 2019 No.: 007 of 2019".

The President of Nigeria assented to the Finance Bill 2020 on 31 December 2020. The Act which takes effect from 1 January 2020 introduced amendments to several tax and fiscal laws including...

As 2023 winds down, the need for a thorough review of tax-related judicial decisions likely to significantly impact the 2024 tax atmosphere cannot be overstated.

One of the more common related party transactions conducted by taxpayers in Nigeria is intra-group services.

Nigeria's new tax regime fundamentally reshapes how intellectual property (IP) and digital assets are taxed. If your startup earns revenue from software, data, digital platforms...

George (not real name) has just gotten a demand notice from the Lagos State Internal Revenue Service (LIRS), stating that he had under-declared his taxable income...

The pioneer status incentive scheme which is governed by the Industrial Development (Income Tax Relief) Act, Cap. 179 Laws of the Federation...

A public address [by Dr. Edmund Daukoru, Nigeria’s Presidential Adviser on Petroleum and Energy] flagged off the 2005 bid rounds for 63 oil and gas blocks spread across Nigeria’s onshore and deep off shore.

On 13 January, 2016, the International Accounting Standard Board announced the issuance of a new accounting standard: International Financial Reporting Standard 16, on leases, which took effect on 1 January 2019.

It is often said that "no one pays tax with a smile". This applies to individuals and businesses alike, much less paying it twice.

Legal compliance is the process by which a company adheres to rules, laws, and policies that regulate business practices in a particular jurisdiction. It involves ensuring that a business...

The world over, investing in real estate is ordinarily done using direct methods such as purchasing, building, licensing and leasing out properties and earning returns therefrom. The advent of real estate investment trusts...

The Land Use Act (formerly called the Land Use Decree) Chapter 202 of the Laws of the Federation of Nigeria 1990, is:

President Muhammadu Buhari, on the 31st of December 2020, signed the Finance Bill, 2020 (now "Finance Act" or "FA 2020") into law.

The President of the Federal Republic of Nigeria recently issued an order which confers certain fiscal incentives on companies doing business in Nigeria.