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Nigeria's upstream sector remains the undisputed engine of its national economy, significantly and consistently contributing to Gross Domestic Product (GDP), foreign exchange earnings and Government revenue...

Tax in Nigeria has in recent times taken a more important role in the conversations around Government revenue. The consistent introduction of changes to the fiscal regime by way of Finance Acts...

A company in Nigeria, whether resident or non-resident, is subject to taxation if its income falls within the scope of the Companies Incomes Tax Act.

To combat these shortfalls, the Federal Government of Nigeria has incentivised private sector participation in the provision and maintenance of key infrastructures across the country.

Freight tax in Nigeria is an important but often misunderstood aspect of doing business in the logistics, shipping, and import-export sectors. With multiple taxes, levies and regulatory charges imposed...

Nigeria's tax and regulatory landscape experienced significant changes in 2020 largely due to the implementation of the Finance Act, 2019 and the impact of COVID-19 pandemic.

My learned colleague and ThisDay Lawyer columnist, Abubakar D. Sani, on 8th August 2017 published a piece titled: "Widening the Tax Net: Is Osinbajo's Executive Order Correct?"...

It is no longer news that the Nigeria economy is in recession: reflective of foreign exchange challenges, growing inflation and unemployment rates, amongst other indices.

Federal Inland Revenue Service Issues Public Notice on Withholding Tax on Interest on Short Term Securities

An internal memo of the Federal Inland Revenue Service dated July 25 1 2018 and captioned "Re: Circular on Withholding Tax Utilisation and K-Card Update Key Deliverables" (Memo) has become public knowledge.

Nigeria's workforce includes a distinctive group of individuals whose jobs require frequent travel across state borders, often without a fixed place of residence.

The Nigerian tax system is primarily run on self-assessment basis.

The Finance Act 2023 (FA23) was signed into law by the former President Muhammadu Buhari on 28 May 2023, a day before the end of his administration. The Act is to take retroactive...

Recently, the Federal Inland Revenue Service ("FIRS") served tax assessments on international shipping companies that are considered to have generated income liable to Nigerian tax.

In 2011, the Federal Government of Nigeria (FGN), in a bid to boost investment in bonds in Nigeria, issued the Companies Income Tax (Exemption of Bonds and Short-Term Government Securities) Order...

A major innovation introduced by the Nigeria Tax Act (the “NTA”) is the 15% Minimum Effective Tax Rate (the “METR”), which represents a fundamental shift in Nigeria’s corporate tax framework. The METR is intended to guarantee that companies of significant economic scale bear a minimum tax burden, notwithstanding the availability of incentives, exemptions, or reliefs.

On 19 February 2020, the Nigerian Tax Appeal Tribunal (the "Tribunal"), sitting in Lagos delivered its first ever judgement on a transfer pricing (TP) dispute under Nigeria's Income Tax...

In August 2018, taxpayers were awakened to sudden freezing of their bank accounts for alleged non-payment of taxes and this marked the beginning of an "account- freezing" operation by the Federal Inland Revenue Service (FIRS).