The Tax Appeal Tribunal (TAT) reaffirms previous decisions that interest on related party loans is tax deductible provided it satisfies arms-length principles.

By law, certain tax liabilities such as VAT and withholding taxes must be paid in the currency of transaction. This means for instance, if a fee was paid in USD then the applicable VAT ...

The Federal Inland Revenue Service is set to conduct a verification exercise nationwide covering VAT and WHT from 12 March to 11 April 2014.

The Lagos State Internal Revenue Service (LIRS) has launched a new eTax system, a digital, end-to-end, multi-channel solution for tax filing and payments

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

The Tax Appeal Tribunal, delivered a ruling on the applicability of value added tax and withholding tax on reimbursable expenses in the case between Brasoil Oil Services Company Limited and FIRS.

As a result of the low profit margin in the construction industry, resulting in perpetual excess WHT credits, the former minister of finance granted a reduction in WHT rate from 5% to 2.5%.

Nigeria's startup economic sub-sector stands in the top three most advanced in the African continent according to StartupBlink's Global Startup Ecosystem Index 2021.

This article was developed from the conversations at the Beyond Borders Tax Webinar

The Federal Inland Revenue Service (FIRS) has issued a Public Notice extending to 31 August 2022, the deadline for filing Companies Income Tax (CIT) returns and payment of the related tax...

The Federal Inland Revenue Service (FIRS) embarked on an Integrated Tax Administration System (ITAS) project in 2013.

The Federal Inland Revenue Service (FIRS) recently denied some companies seeking to utilise withholding tax (WHT) credit notes carried forward from prior years against their 2016 income tax assessments.

A survey conducted by PwC during a recent tax stakeholders' event revealed that sixty percent of taxpayers consider withholding tax as the most complex aspect of tax compliance in Nigeria.

The Federal Inland Revenue Service (FIRS), on 14 August 2019, issued a public notice informing companies, particularly those in the FMCG sector.

We therefore advise that all stakeholders commence compliance with the revised WHT rates of 5%.

The Lagos State Internal Revenue Service (LIRS) has issued a Public Notice introducing the eTax-generated bill reference ("bill reference") to facilitate and optimize the ease of tax payments...

In Nigeria Withholding Tax receipts may be used to offset Company Income Tax.

Have you ever been in a position where you needed to quickly confirm tax rates, filing deadlines, penalty for default, and other tax obligations? Even if you haven't, don't wait until you are stranded.

FIRS has issued a Public Notice imposing 30 November 2021 deadline for expiration of waiver of penalty and interest for companies with outstanding companies income tax returns for 2021 year of assessment.

On 30th July, 2020, the Federal Inland Revenue Service issued a Public Notice informing taxpayers of its grant of further extension to the deadline for filing Companies Income Tax returns by one week.