FIRS held a stakeholder meeting on 19 September 2014 to sensitise Sole Risk and Marginal Field operators on tax compliance and transfer pricing issues.

One of the major reasons many investors choose to locate their companies especially holdcos outside Nigeria is to avoid the excess dividend tax exposure.

The Tax Appeal Tribunal, delivered a ruling on the applicability of value added tax and withholding tax on reimbursable expenses in the case between Brasoil Oil Services Company Limited and FIRS.

This decision provides some clarity on the long standing debate on whether tax deductibility is dependent on cost recoverability for upstream oil companies in Nigeria.

On 20 June 2019, the Tax Appeal Tribunal (TAT), in the case between Nigeria Breweries Plc and Abia State Board of Internal Revenue Service (Respondent), ruled that gratuity is not liable to personal income tax.

"In business as in life, you don't get what you deserve, you get what you negotiate." - Karrass, Chester L.

It is conventional wisdom that the harder we make tax compliance, the more we provide the incentive for non-compliance and outright evasion.

As a result of the low profit margin in the construction industry, resulting in perpetual excess WHT credits, the former minister of finance granted a reduction in WHT rate from 5% to 2.5%.

A Bill to provide for the designation and establishment of Oil and Gas Free Zones and Special Investment Areas is being considered by the Nigerian legislature.

You should have your transfer pricing (TP) policy and documentation in place by now or in the process of doing so.

FIRS has issued letters to taxpayers to start submiting schedules along with their VAT returns showing the VAT attributable to their different branches.

The federal government of Nigeria today announced the extension of the deadline for filing returns under the Voluntary Assets and Income Declaration Scheme by 3 months.

The Tax Appeal Tribunal ("TAT") on 11 December 2014 delivered a judgment on the treatment of revenue allocation by a non-resident company ("NRC") under the deemed profit regime.

FIRS has started to enforce filing of tax returns and payment of outstanding taxes by distraining properties and procuring the arrest of principal officers of defaulting companies.

I have articulated my thoughts on how taxation can be used as an enabler to forge inclusive growth and create employment.

The Brexit vote has not only shocked the EU and the rest of the world, it also left many citizens and residents of the United Kingdom themselves "fantastically stunned".

The Scheme, which encourages voluntary declaration of offshore assets, is aimed at combating money laundering and tax evasion.

The implication of the Finance Act 2021 with some of the modest changes contained therein, is that the Act is focused on various macro-economic policies of the Federal government...

The Federal Inland Revenue Service (FIRS) is changing how businesses issue invoices and report Value Added Tax (VAT).

Federal Inland Revenue Service (FIRS), in a bid to ensure tax certainty and promote voluntary tax compliance of non-resident persons, has established a Non-Resident Persons' Tax Office (NRPTO).