GlaxoSmithKline (GSK) recently announced a formal exit from Nigeria, which generated a lot of emotions in the country. It was seen by many as a fall out of how the economy...

It is no secret that in recent times the Federal Inland Revenue Service has become more aggressive in the audit of multinational enterprises.

The 2018 fiscal year witnessed an increased tax activism by the revenue authorities and the Ministry of Finance. These events clearly demonstrated the government's intention to widen the tax net and raise additional revenue.

Transfer Pricing (TP) as a discipline in taxation seeks to analyze whether Related Party Transactions (RPT) are conducted in a fair manner to ensure that entities involved in the transactions...

The 2020 Financial Year (FY) was an unprecedented year for most taxpayers in Nigeria due to the economic impact of the COVID-19 pandemic. Companies were faced with various unexpected disruptions to business...

The history of Transfer Pricing (TP) in Nigeria dates back to 2012 when the first Income Tax (Transfer Pricing) Regulations No. 1, 2012 was gazetted.

In the wake of an increasing need for tax administrations across the globe to protect their tax base from tax evasion and avoidance, there has been increasing focus on transparency ...

The Nigerian Transfer Pricing Regime has witnessed significant developments in the last few years, which have resulted in TP finally becoming one of the high-risk tax areas facing Group Companies in Nigeria.

Effective January 1, 2025, the Federal Inland Revenue Service (FIRS) released its first-ever Guidelines on Advance Pricing Agreements ("APA Guidelines"), introducing a new compliance tool for eligible companies.

The Tax Appeal Tribunal (TAT or "the Tribunal") sitting in Lagos recently ruled in the case between Checkpoint Software Technologies B.V Nigeria Limited (CST or "the Company" or "the Appellant")...

The case of South Africa Revenue Service vs ABD Limited (ABD) provides insight on critical aspects of transfer pricing, that resonate beyond South Africa's borders, particularly for Nigeria.

The Finance Act 2019 introduces several changes to Nigerian tax laws. Some key changes introduced by the Finance Act are identified below:...

Unprecedented – the word that seemed to adequately capture the general sentiments around the COVID-19 pandemic and its effect on the global economy.

In our previous article, we highlighted some key provisions of the Nigeria Finance Bill 2022 (the "Bill"). In a final move by former President Mohammadu Buhari, the Bill...

Transfer pricing (TP) describes the form of inter-company pricing methods between two or more related economic entities with respect to intra-group supply...

Intangibles are an integral part of the value creation process of businesses and a fundamental part of their continuing success.

Just recently, the Executive Chairman of Federal Inland Revenue Service ("FIRS") announced that its revenue generation target for 2019 is N8 Trillion

On 19 February 2020, the Tax Appeal Tribunal ("TAT" or "the Tribunal"), Lagos, Nigeria ruled on its first Transfer Pricing (TP) case. The parties involved in the case were...

In the last few years, the international tax space has experienced an unprecedented drive to achieve increased transparency in the tax practices of Multinational Enterprises

The judiciary plays a crucial role in the administration of justice. Applicable tax laws in Nigeria clearly define the procedures for tax appeal and for challenging any decision of tax authorities.