840 results found

On 19 October 2022, the President of the Federal Republic of Nigeria gave his assent to the Nigeria Startup Bill 2021 (the Bill), effectively signing it into law as the Nigeria Startup Act 2022 (the Act).

Thereby reducing the tax payable to the Revenue Authority. This action is referred to as "Profit Shifting.

Outsourcing the corporate tax compliance function, thereby enabling organisational focus on core growth drivers, is increasingly popular, given the efficiency and strategic business benefits.

This briefing note is designed to give some practical guidance to the Income Tax (Common Reporting Standard) Regulations 2019 (the ‘'Regulation'') and the recently clarified directive (the ‘‘Directive'') of the Federal Government of Nigeria (the ‘‘FGN'').

On 13 of January 2020, the President signed the Finance Act 2019 (‘the Act") into law. The implementation of the Act commenced in February 2020, as announced by the Federal Ministry of Finance.

On June 24, 2024, the Federal Inland Revenue Service ("FIRS") issued Information Circular No. 2024/04 (the "Circular") to provide information and guidance to the general public, taxpayers, tax practitioners...

On June 26, 2025, President Bola Ahmed Tinubu made history by signing into law four comprehensive tax reform bills that promise to transform Nigeria's revenue generation landscape fundamentally.

The Federal Inland Revenue Service (FIRS), in exercise of powers conferred on it by Section 61 of the Federal Inland Revenue Service (Establishment) Act No.13 of 2007 ...

Only few occasions could ever be more certain than death and taxes. In advanced commercial climes in fact, failure to comply with tax obligations might just mean the beginning of the end for an entity.

Nigeria is home to several small business entities run by individuals or group of business partners. Statistics show that businesses on this scale of operations are more than large scale businesses and multinational enterprises operating in the country.

With the effects of the COVID-19 pandemic taking centre stage in the world at the moment, there has been an increase in Not-for-Profit Organisations ("NFPOs" or "Not-for-Profit") springing up...

Personal Income Tax (PIT) plays a vital role in Nigeria's tax framework, affecting individuals, partnerships, trustees, and estates that earn income locally or from Nigerian sources.

On 6 March 2024, the President of the Federal Republic of Nigeria, Bola Ahmed Tinubu, executed Policy Directives aimed at enhancing the investment climate in Nigeria.

Nigeria, often referred to as the "Giant of Africa" boasts vast resources, a large and increasingly growing population, and a dynamic economy.

One recurring point in transactions with withholding tax (WHT) requirement is: should the payer (obliged to deduct WHT from relevant payment), bear the payee's WHT burden by paying the gross amount and yet remit the WHT to the Revenue?

The corporate business environment is regulated by certain requirements to be met for the effective operation of its business in Nigeria.

Registering a company is one of the most essential steps in setting up a business entity in Nigeria.