1,627 results found

On Saturday, 2nd December 2023, a wheelbarrow pusher stabbed a government revenue official in Benin City (Edo State) and instantly turned the same knife on himself.

The Value Added Tax (VAT) (Modification) Order, 2024 ("the Order") was signed on 1 September 2024, by the Honorable Minister of Finance and Coordinating Minister of the Economy...

The new directive which requires all non-resident companies to submit audited accounts and actual profit tax computations may create practical challenges.

We are pleased to share the 2019 version of our Nigeria Tax Data Card containing summaries of over 15 different taxes in a tabular, pocket-sized format.

On Thursday 8 October 2020, His excellency, President Muhammadu Buhari presented the 2021 Budget Proposals to the Joint session of the National Assembly.

A Tax Identification Number (TIN) is a unique identifier assigned to businesses, individuals, and other entities for the purpose of tax administration. In Nigeria, obtaining a TIN is crucial for businesses to comply with their tax obligations.

The National Tax Policy (NTP) acknowledges this challenge when it states, "elimination of multiple taxation must be of major concern to government at all levels.

A most ironic scenario played out on the 17th of August 2023 at the Tax Appeal Tribunal (Lagos Zone) ("TAT") when the TAT, a tribunal created under the Federal Inland Revenue Service (FIRS) Establishment Act 2007...

The National Assembly has passed a new law, the National Housing Fund (Establishment) Act 2018.

President Muhammadu Buhari recently transmitted the Finance Bill, 2021 ("the Bill") to the National Assembly for passage into law.

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...

Digital economy no longer needs introduction. We will therefore not be spending time trying to define neither the term, scope nor coverage.

On 24 April, 2008, American movie star, Wesley Snipes, was convicted and sentenced to 3 years in prison for failing to file income tax returns.

Globally, jurisdictions such as Mauritius, Singapore, and the United Arab Emirates have built reputations as investor friendly hubs by maintaining transparent, predictable, and business-friendly tax systems.

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

In Chief J.W. Ellah & Sons Company Ltd v FIRS and Essay Holdings Ltd v. FIRS decided by the Tax Appeal Tribunal (TAT) in Benin and Lagos Zones respectively...

Payment of tax is a mandatory financial obligation, levied by law on individuals as well as corporate persons.