Under the scheme, eligible companies are exempted from income tax for 3 years which may be extended for one or two years.

The Federal Inland Revenue Service (FIRS) has declared a partial tax amnesty commencing from today 5 October 2016.

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.

In the past few years, the FIRS has questioned the eligibility of some companies that were granted pioneer status incentive (exemption from corporate income tax).

How legitimate is the FIRS order to banks to freeze accounts of tax defaulters; what roles should banks play; and what recourse do taxpayers have?

There is no prescription in the labour law regarding removal expenses and relocation allowances payable to or on behalf of an employee that changes the location of residence for work purposes

The year 2015 will be marked as the year of slow economic growth and haphazard fiscal and monetary policies due in part to the uncertainties brought about by the change in government.

In a recent decision, the Tax Appeal Tribunal (TAT) says the tax authority must act reasonably in the exercise of its discretion to assess a taxpayer based on deemed income (or best of judgment assessment).

The Tax Appeal Tribunal (TAT) has ruled that the payment made by an oil producing company to flare gas in the course of crude oil production is not a fine to be disallowed for tax purposes...

This follows from the deposit of the fifth instrument of ratification by Slovenia today 22 March 2018.

The Tax Appeal Tribunal (TAT) has ruled that it is not bound by the strict rules of evidence contained in the Evidence Act while performing its functions as an administrative tribunal...

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

There has been a long standing dispute between the Federal Inland Revenue Service (FIRS) and oil producing companies on the applicable price of crude oil to be used for tax purposes.

In many cases, a new company commencing business in Nigeria can get a tax holiday for about 5 years (known as pioneer status).

I have received a number of requests for a copy of the judgment on the above subject.

With the recent appointment of Mr Babatunde Fowler as the acting Executive Chairman of the FIRS, his primary mandate is to significantly increase Nigeria's tax revenue collection...

Generally the FIRS would seek to use the higher of the OSP and the RP for tax assessments.

The FIRS circular on the taxation of Real Estate Investment Companies (REICs) is further to the recent amendments made by the Finance Act (FA), 2019 to the Companies Income Tax Act (CITA).

The Federal Inland Revenue Services (FIRS) has issued a circular on the tax implications of regulated securities lending (RSL) transactions in Nigeria

In practice, FIRS may disallow capital allowances claimed on fixed assets if the appropriate CAFA has not been obtained from the Industrial Inspectorate Department.