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  • Article

    The Income Tax (Transfer Pricing) Regulations, 2018 – Is This A Game Changer?

    With the release of the Income Tax (Transfer Pricing) Regulations, 2018 on 27 August 2018, Nigeria took yet another very bold step in its quest towards adopting and implementing recent international multilateral initiatives.
    NigeriaTax
    Deloitte Nigeria
    Deloitte Nigeria
  • Article

    Tribunal Directs FIRS To Accept Tax Returns Prepared By Contractors In A PSC Arrangement – Again!

    The Tax Appeal Tribunal (TAT) on 18 November 2015 held that the Federal Inland Revenue Service should accept tax computations prepared by the Contractor of a Production Sharing Contracts...
    NigeriaTax
    PwC Nigeria
    PwC Nigeria
Article

2.5% Withholding Tax Rate: Who Are The Intended Beneficiaries?

The reduced WHT rate is stated to apply to companies involved in "all aspects of building, construction and related activities...".
NigeriaTax
Deloitte Nigeria
Deloitte Nigeria
  • Article

    FIRS Issues Demand Notices Based On Property Valuation

    The foregoing is a fall out of property valuation exercise carried out by FIRS in October, 2016.
    NigeriaTax
    Deloitte Nigeria
    Deloitte Nigeria
  • Article

    FIRS Releases Income Tax (Common Reporting Standard) Implementation And Compliance Guidelines 2019

    The Federal Inland Revenue Service (FIRS) has issued the Income Tax (Common Reporting Standard) Implementation and Compliance Guidelines (the "guidelines").
    NigeriaTax
    Andersen in Nigeria
    Andersen in Nigeria
  • Article

    Proposed Amendments To The Personal Income Tax Act

    There are two Bills currently pending before the National Assembly proposing amendments to the Personal Income Tax Act (as amended) 2011.
    NigeriaTax
    Aluko & Oyebode
    Aluko & Oyebode
  • Article

    Section 43(6) Of CITA & Interim Dividend - Whose Dividend, What Tax?

    Dividend is the payment received by a shareholder from a company after distribution of profits.
    NigeriaTax
    Deloitte Nigeria
    Deloitte Nigeria
  • Article

    Companies Operating In Nigeria May Be Liable To Turnover Tax Under The NASENI Act

    ASENI was established in 1992 by the Federal Government of Nigeria. The Agency's mandate is to create an enabling, knowledge-driven environment for local mass-production of standard parts, ...
    NigeriaCorporate/Commercial Law
    PwC Nigeria
    PwC Nigeria
  • Article

    LIRS Issues Public Notice On Exemption Of Compensation Of Loss Of Employment

    The Lagos State Internal Revenue Service (LIRS) has issued a public notice (the Notice) with respect to the exemption of compensation for loss of employment.
    NigeriaEmployment and HR
    Deloitte Nigeria
    Deloitte Nigeria
  • Article

    Voluntary Pension Contribution – Arresting The Tax Leakage From Withdrawals?

    The Pension Reform Act 2014 ("PRA" or "the Act") and the repealed Pension Reform Act 2004 played a great role in ensuring employers and the employees in Nigeria save for employees' retirement.
    NigeriaEmployment and HR
    Deloitte Nigeria
    Deloitte Nigeria
  • Article

    FIRS Finance Act Circular: Taxation Of Insurance Companies

    Reserves for unexpired risks will now be determined on a time-apportionment basis. This means that tax-deduction will only be available for reserves relating to the relevant year.
    NigeriaInsurance
    PwC Nigeria
    PwC Nigeria
  • Article

    Pricing Of Intangible Property ("IP") Rights In Nigeria - Why Commercial, Fiscal And Currency Control Interests Must Align

    A review of Nigeria's present fiscal and currency control regimes as they relate to commercial and industrial IP rights...
    NigeriaIntellectual Property
    Deloitte Nigeria
    Deloitte Nigeria
  • Article

    A New Tax Authority Has Been Established For The Federal Capital Territory

    The federal government recently enacted a new law, the Federal Capital Territory Internal Revenue Service Act, 2015.
    NigeriaTax
    PwC Nigeria
    PwC Nigeria
  • Article

    Acting President Osibanjo Signs Executive Order Backing Implementation Of VAIDS

    The Acting President, Prof. Yemi Osinbajo on 29 June 2017 signed an Executive Order backing the implementation of the Voluntary Asset and Income Declaration Scheme (VAIDS).
    NigeriaTax
    Deloitte Nigeria
    Deloitte Nigeria
  • Article

    An Overview Of Nigeria's 2018 Income Tax (Country By Country Reporting) Regulations

    The Federal Inland Revenue Service recently released the Income Tax (Country by Country Reporting) Regulations, 2018, which marks yet another significant step by Federal Government of Nigeria ...
    NigeriaTax
    Deloitte Nigeria
    Deloitte Nigeria
  • Article

    Cost Contribution Arrangements ("CCAs")

    The last six years have witnessed significant efforts by Nigeria to align its domestic tax laws and regulations with international initiatives on modernization of its tax principles and enhancement...
    NigeriaTax
    Deloitte Nigeria
    Deloitte Nigeria
  • Article

    FIRS Demands Deduction Of WHT/VAT At Source On All Forms Of Commission And Rebates Paid To Distributors And Customers

    Federal Inland Revenue Service (FIRS) on Wednesday, 14 August 2019, issued a public notice informing taxpayers that commission and rebates earned by distributors and customers are subject
    NigeriaTax
    Deloitte Nigeria
    Deloitte Nigeria
  • Article

    FIRS Demands Penalties From Erring Taxpayers For Failure To File CbCR Notification

    The Federal Inland Revenue Service (FIRS) has started issuing demand letters for payment of administrative penalties to taxpayers who did not file Country-by-Country Reporting
    NigeriaTax
    Deloitte Nigeria
    Deloitte Nigeria
  • Article

    FIRS Issues Guidelines For Filing Naira-denominated Tax Returns On TaxPro-Max E-Filing Platform

    On Friday, 4 June 2021, the Federal Inland Revenue Service issued a Public Notice providing guidelines on the administration of its TaxPro-Max e-filing platform.
    NigeriaTax
    KPMG in Nigeria
    KPMG in Nigeria
  • Article

    FIRS Issues Nigeria's Country-By-Country Reporting Regulations

    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, and all other powers enabling it, ...
    NigeriaTax
    Deloitte Nigeria
    Deloitte Nigeria
  • Showing 81–100 of 840 results

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