841 results found

The FIRS has recently issued letters to owners, and in some cases, charterers of oil tankers used to export crude oil and LNG from Nigeria in connection with back taxes from 2010-2019.

Pursuant to powers conferred under section 13(4) of the Companies Income Tax Act[1] ("CITA"), as amended by the Finance Act (2019), the Minister of Finance, on February 3, 2020, issued the Companies Income Tax...

Nigeria is one of the countries with the most developed startup ecosystems in Africa, with Lagos ranking as the top startup city in Africa.

If you are building or investing in a Nigerian tech company and thinking about an eventual exit, the Nigeria Tax Act 2025 (NTA 2025) has materially changed how much of that exit value you actually keep.

On 31st December 2021, President Muhammadu Buhari signed the Finance Bill, 2021 (now referred to as ‘‘Finance Act, 2021'' or FA, 2021) into law.

Corporate taxes are taxes levied on companies or other legal entities that are doing business in Nigeria. They are usually deducted from a company's profits.

Nigeria's tax framework has recently undergone significant reform aimed at improving economic efficiency and easing the cost of doing business.

The Nigerian tax system consists of a fragmented and complicated set of tax laws that fall short in terms of administrative efficiency and effectiveness, making it difficult to achieve...

As the saying goes, if you fail to plan, then you plan to fail.

On the 1 st of July 2024, the Federal Government of Nigeria, under the hand of the Finance Minister, Hon. Olawale A. Edun, announced the promulgation and immediate implementation...

Artificial Intelligence (AI) is no longer a futuristic concept—it is actively reshaping how business is done across multiple sectors, from fintech and healthcare to logistics and legal services. In Nigeria, both local startups and international companies are adopting AI technologies to improve operations, cut costs, and create new markets.

Nigeria has introduced comprehensive tax guidelines for virtual assets, requiring VASPs to withhold taxes, collect stamp duties, and maintain detailed records. The new framework classifies crypto assets into six categories and imposes income tax, VAT, and stamp duty on various transactions, fundamentally changing compliance obligations for cryptocurrency platforms operating in Nigeria.

On 18 June 2026, Nigeria's Minister of Finance issued comprehensive transition guidelines for newly enacted tax legislation. These guidelines establish operational frameworks for implementing four major tax Acts that fundamentally reshape the country's tax administration and revenue collection systems. The transition rules address critical implementation questions for taxpayers, tax authorities, and stakeholders navigating Nigeria's reformed tax landscape.

To simplify business operations, the Federal Government of Nigeria made significant changes to the Companies and Allied Matters Act 2020 ...

President Bola Ahmed Tinubu transmitted the Tax Reform Bills to the National Assembly for consideration in October 2024.

Nigeria's fiscal and economic landscape is undergoing a critical transformation as the government seeks to address pressing challenges including inflation, heavy reliance on imports, exchange rate fluctuation and growing public debt, among others.

In a strategic effort to restructure Nigeria's fiscal framework and enhance revenue collection, the Nigerian government undertook a comprehensive overhaul of the nation's fiscal system.