ArticleImpending Changes To The National Housing Fund SchemeThe National Housing Fund (NHF) was established under the NHF Act 1992 to facilitate the mobilisation of funds for the provision of affordable housing for Nigerians. NigeriaGovernment, Public SectorPwC Nigeria
ArticleNigeria Has Ratified The African Continental Free Trade Area (AfCFTA) AgreementThe federal government of Nigeria has ratified Nigeria's membership of #AfCFTA. Find out the potential impact this will have on businesses NigeriaIntellectual PropertyPwC Nigeria
ArticleProposed Changes To Foreign Exchange RulesThe Nigerian Law Reform Commission has proposed various amendments to the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act.NigeriaInternational LawPwC Nigeria
ArticleA Law To Compel Private Companies Operating In Nigeria To Become Public Companies Is UnderwayThe Private Companies Conversion and Listing Bill is undergoing legislative proceedings at the National Assembly.NigeriaTaxPwC Nigeria
ArticleA Social Welfare Bill Has Been Introduced By The National Assembly But How Workable Will It Be?A new Bill has been introduced by the National Assembly seeking to establish an Unemployed Youth, Elderly and Indigent Persons Sustainability Allowance Trust Fund to be financed by the proposed Communication Service TaxNigeriaTaxPwC Nigeria
ArticleCommissions On Capital Market Transactions Now VAT ExemptThe Finance Minister has amended the list of "Services Exempt" from Value Added Tax (VAT) to include commissions on transactions in the Nigeria Capital Market.NigeriaTaxPwC Nigeria
ArticleFederal Government Increases Excise Duties On Tobacco And Alcoholic ProductsPresident Mohammadu Buhari, on the recommendation of the Tariff Technical Committee of the Ministry of Finance, has approved an increase to the excise duties on tobacco and alcoholic beverages effective from 4 June 2018NigeriaTaxPwC Nigeria
ArticleFIRS Has Introduced Electronic Filing Of Tax Returns And Online Payment Of TaxesThe Federal Inland Revenue Service (FIRS) embarked on an Integrated Tax Administration System (ITAS) project in 2013.NigeriaTaxPwC Nigeria
ArticleFIRS Introduces Electronic Platform For Transfer Pricing FilingsOn 17 March 2020, the Federal Inland Revenue Service (FIRS) organized a stakeholder's event for the official launch of its electronic filing solution for Transfer Pricing (TP) called E-TP PLAT 2.0. NigeriaTaxPwC Nigeria
ArticleFIRS Moves To Restrict Carry Forward Of WHT CreditsThe 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.NigeriaTaxPwC Nigeria
ArticleFlaws Of The Withholding Tax System In Nigeria (Part 1)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.NigeriaTaxPwC Nigeria
ArticleInterest Rate For Tax Defaults Now Set At 15%The Federal Inland Revenue Service has issued a notice regarding the administration of penalty and interest rates regime under the Companies Income Tax Act. NigeriaTaxPwC Nigeria
ArticleLIRS Clarifies Conditions For Tax Deductibility Of Interest On Property LoanThe Lagos State Internal Revenue Service (LIRS) has released a public notice to provide clarification on the conditions and compliance requirements for individuals to qualify for tax deduction...NigeriaTaxPwC Nigeria
ArticleLIRS To Issue New Tax Identification Numbers To TaxpayersThe Lagos State Internal Revenue Service (LIRS) on 30 May 2019 issued a Public Notice informing the public of the new Tax Identification Number (TIN) which will be issued to every individual.NigeriaTaxPwC Nigeria
ArticleNSE Issues Rules To Guide Transactions With Related PartiesThe Nigerian Stock Exchange (NSE) has issued Rules which impose certain requirements on listed companies regarding any transactions with related and other interested parties. NigeriaTaxPwC Nigeria
ArticleTax Appeal Tribunal Issues Judgement On The Applicability Of VAT On Casino Revenue, Imported Services And RechargesTourist Company of Nigeria Plc ("TCN" or the "Appellant") engages in the gaming and hospitality business including the operation of a casino in Nigeria.NigeriaTaxPwC Nigeria
ArticleThe Global Tax Landscape Is Changing, How Will The New OECD BEPS Action Plans Affect You?On 5 October 2015, the Organisation for Economic Cooperation and Development (OECD) released its final Base Erosion and Profit Shifting (BEPS)...NigeriaTaxPwC Nigeria
ArticleVAT (Amendment) Bill 2015: Taxpayers To Pay Much More For Non-ComplianceNow that Britain has voted to leave the EU, analysts are trying to figure out the implications of Brexit for not only the UK/EU but the global economy. NigeriaTaxPwC Nigeria
ArticleVoluntary Assets And Income Declaration Scheme (VAIDS)The National Executive Council [NEC] recently approved in principle, the implementation of a Voluntary Assets and Income Declaration Scheme (VAIDS). NigeriaWealth ManagementPwC Nigeria
ArticleWhen The Going Gets Tough. Global Mining Deals Mid-Year Report 2012.Although 2012 began strong, global economic uncertainty and a drop in commodity prices led to a marked slowdown in merger and acquisitions (M&A) in the mining industry in the first half of 2012. WorldwideEnergy and Natural ResourcesPwC Management Services LP