1,627 results found

On 19 February 2020, the Tax Appeal Tribunal (TAT or Tribunal), in the case between Prime Plastichem Nigeria Limited (Prime Plastichem or the Company) v Federal Inland Revenue Service

The increased pace of globalisation has not left Nigeria and Nigerian companies out. Consequently, Nigerian companies are increasingly involved in business activities abroad in order to remain competitive in today's business environment.

In recent decades, business reorganization has witnessed a geometric spike in Nigeria as companies have been forced to reorganize operations by regulatory demands...

One of the amendments made by the Finance Act 2023 to the Companies Income Tax Act, Cap C.21, LFN 2004 (as amended) is the introduction of Section 14(6), which makes it mandatory for non-resident companies ...

In line with the directive of the Federal Inland Revenue Service (the "FIRS") to all banks, the banks have notified their customers in a notice issued on 2 May 2024...

It was recently reported that some international shipping companies engaged in Nigerian trade may be considering terminating their operations in the country, with the largest economy in Africa...

Milton Friedman, the renowned American economist, had posited that: "inflation is taxation without legislation".

So, we've all heard about the trending Finance Act, 2020 (the "Act") signed into law by President Muhammadu Buhari on Monday 13th January, 2020.

A new Pioneer Status Incentive regime has been introduced.

Transfer Pricing (TP) audits are a key part of the activities of the tax authorities as audits afford them the opportunity to assess the level of taxpayers' compliance to extant TP laws and the arm's length principle.

The unrelenting drive to increase government revenue is apparent from the various measures being adopted by the Federal Government.

Nigeria's transfer pricing (TP) landscape is steadily evolving to keep pace with the local business environment and global dynamics. However, despite previous regulatory revisions...

The Finance Act, 2019 amended some provisions of the Companies Income Tax Act, Petroleum Profit Tax Act, Personal Income Tax Act, Value Added Tax Act, Customs and Excise Tariff etc...

It amounts to an abuse of the CBA framework to incorporate and sustain clauses that circumvent the provisions of the law based on the union's potential to create or trigger industrial crisis at will.

On 31st December, 2020, President Muhammadu Buhari signed the Finance Bill, 2020 (now Finance Act) into law.

When tax revenue grows at a slower rate than the GDP, the tax-to-GDP ratio drops; when tax revenue grows faster than GDP, the ratio increases.

Towards the end of 2018, the FIRS began to employ an aggressive tool called "substitution order". It involves appointing a 3rd party holding the asset or funds of a tax defaulter as an agent to pay the tax.