The LIRS has issued a Public Notice mandating employers to account for and remit CGT on termination benefits and any other capital sum paid to disengaging employees.

In order to give taxpayers ample time to file their tax returns amid the lockdown, the LIRS had in March 2020 issued a public notice extending the filing deadline from 31 March to 30 June 2020.

The Tax Appeal Tribunal in the case of Oando PLC v the Federal Inland Revenue Service decided in favour of the FIRS regarding the application of Section 19.

Apparently nothing is straightforward in matters of taxation.

The Tribunal also held that Petroleum Investment Allowance ("PIA") should not be considered as part of allowances in computing the ‘residue’ for balancing charge.

The WHT Regulations provide that "all types of contracts and agency arrangements other than sales in the ordinary course of business"

In May 2016, the Tax Appeal Tribunal (TAT) sitting in Lagos ruled that parties in Production Sharing Contracts (PSCs) with the Nigerian National Petroleum Corporation (NNPC), can take tax deduction for sole costs...

The Tax Appeal Tribunal (TAT) is an administrative body established by the Federal Inland Revenue Service Establishment Act to hear and resolve tax disputes arising from all federal tax legislation.

The Tax Appeal Tribunal Lagos division held that a Nigerian company that receives services performed by a non-resident company should account for and pay Value Added Tax.

Nigeria's House of Representatives has proposed a Bill for an Act to provide for tax relief, suspension of import duty on selected medical goods and deferral of residential mortgage obligations.

The Finance Act 2019 introduced an amendment to the Companies Income Tax Act to impose tax on a foreign entity with respect to certain services or digital transactions...

Here is the concluding part of my article in today's BusinessDay and other newspapers.

COVID–19 has impacted the way we work, live and interact. Nigeria, as with most countries, is going through an unprecedented period of uncertainty ...

The Federal Government of Nigeria recently approved the 2016 Fiscal Policy Measures which allow the implementation of the Supplementary Protection Measures and the ECOWAS Common External Tariff 2015-2019.

Nigeria is currently experiencing a declining growth rate. The National Bureau of Statistics recently reported a fall in Nigeria's GDP for the second quarter of 2015 at 2.35% down from 3.96% in the first quarter.

On Tuesday 22 December 2015, President Muhammadu Buhari presented the 2016 Budget to the National Assembly.

Nigeria's House of Representatives has passed the Petroleum Industry Governance Bill (PIGB).

The Federal Competition and Consumer Protection Act ("FCCPA") was signed into law on 30 January 2019.

The FIRS has issued a Circular pursuant to the provisions of Sections 25 and 105 of CITA regarding eligibility of a Fund, Body or Institution seeking to be listed under the Fifth Schedule.

Previously, section 3 of the Personal Income Tax Act of 1993 (PITA 1993) – i.e. the charging section – imposed tax on gratuities, and the 3rd Schedule to the Act exempted gratuities