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In Nigeria, every company whether resident or non-resident is subject to the taxation of its income in line with the provisions of the Companies Income Tax Act (CITA).

The Finance Act 2020 (the "FA 2020"/ "the Act") was signed into law on 31st December, 2020 and took effect from 1st January 2021.

In 2018, the Federal Inland Revenue Service (FIRS) reported that it collected N5.32trillion in tax revenue.

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

Nigeria's Federation Account, the constitutional repository for all federal revenues, is hemorrhaging up to ₦20 trillion annually through systemic leakages and unauthorized deductions. With nearly 40% of gross revenues consumed before distribution to government tiers, the country faces a paradox of substantial revenue generation alongside crushing debt, raising urgent questions about constitutional compliance, institutional accountability, and the structural reforms needed to restore fiscal integrity.

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The Nigerian business environment is no longer what it was just twelve months ago. Driven by regulatory reforms, global best practices, and the pressing need for sustainable growth amid economic challenges, the framework...

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...

On 31st March, 2021, the Federal Inland Revenue Service ("FIRS" or "the Service") issued an Information Circular providing clarifications on the chargeability of Value Added Tax (VAT)...

The Federal Inland Revenue Service (FIRS or "the Service") recently issued the keenly awaited Guidelines on Advance Pricing Agreements (APA) via Information Circular No. 2024/006 on 27 November 2024.

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...

For each of the past three years, the Federal Government of Nigeria has been consistent with enacting a Finance Act, with each enactment introducing some notable changes to the tax landscape.

The Nigerian Investment Promotion Commission (NIPC) recently released its Pioneer Status Incentive (PSI) Report ("the report") for the second quarter of 2019.

Nigeria's Revenue Service has issued comprehensive guidelines establishing a taxation framework for virtual assets, cryptocurrency exchanges, and blockchain enterprises.

On 19 November 2018, the Tax Appeal Tribunal (TAT) commenced sittings in all its zones after a period of over two years of inactivity.

Recent developments in Nigeria including the impact of the global COVID-19 pandemic on the economy, the urgent need...

The highly dynamic local and global tax environment requires a careful examination of today's tax function. Tax functions may need to change to better manage risks, address capability gaps, and...