181 results found

The FIRS today released a public notice threatening to go after the directors, managers, secretaries and other persons concerned with the management of companies to recover tax liabilities owed

The Federal Inland Revenue Service discussed specific tax issues affecting parties to a Production Sharing Contract in the upstream petroleum industry.

We analyse a recent judgment by the Federal High Court regarding the taxation of transactions with non-residents.

FIRS held a stakeholder meeting on 19 September 2014 to sensitise Sole Risk and Marginal Field operators on tax compliance and transfer pricing issues.

This decision provides some clarity on the long standing debate on whether tax deductibility is dependent on cost recoverability for upstream oil companies in Nigeria.

It is conventional wisdom that the harder we make tax compliance, the more we provide the incentive for non-compliance and outright evasion.

The Tax Appeal Tribunal ("TAT") on 11 December 2014 delivered a judgment on the treatment of revenue allocation by a non-resident company ("NRC") under the deemed profit regime.

Our tax calendar for the month of April is available for download. Ensure to keep an eye on your tax compliance obligations to avoid sanctions in view of the aggressive tax drive by governments at all levels.

Nollywood has become one of the world's largest film industries by output volume, yet the legal framework supporting its actors, producers, and distributors remains poorly understood by many emerging entertainers. This analysis examines critical questions of ownership, financial management, taxation, and commercial obligations that arise when Nigerian films move from script to screen, using Omotola Jalade-Ekeinde's 2026 directorial debut as a practical case study.

The Private Companies Conversion and Listing Bill is undergoing legislative proceedings at the National Assembly.

The Tax Appeal Tribunal on 20 March 2015 held that the Federal Inland Revenue Service should consider tax computations prepared by parties to a Production Sharing Contract in assessing PSC parties to Petroleum Profits Tax.

There is a Yoruba adage which says: it is the way that the bird flies that the hunter will throw stones at it.

We understand that the Court of Appeal has reversed the long standing decision of the Federal High Court (FHC) regarding the treatment of sub-contracting expenses in the determination of deemed profit of a non resident company.

The Federal Inland Revenue Service (FIRS) has again issued a public notice to remind companies of their obligations to file tax returns and to do so on time (within 6 months of financial year end date).

The acting Executive Chairman of the Federal Inland Revenue Service (FIRS) in a press conference and meeting with stakeholders on resuming office disclosed the focal areas for his administration.

The Federal Inland Revenue Service has issued a notice regarding the administration of penalty and interest rates regime under the Companies Income Tax Act.

Lagos State Internal Revenue Service (LIRS) has extended the deadline for filing the 2019 employers' annual tax returns to 8 February 2019. The due date for filing the returns is 31 January 2019.