President Muhammadu Buhari today signed into law, a Bill to amend the Deep Offshore (and Inland Basin Production Sharing Contract) Act [the PSC Act].

We have just launched the result of a new survey in a paper, ‘Tax strategy and corporate reputation: Balancing trust and growth’.

A circular dated 16 November 2017 has been issued by the National Pension Commission (PENCOM) to all licenced Pension Fund Administrators and Custodians.

On 5 June, the G7 Finance Ministers announced an agreement in which the participating countries committed to new taxing rights that allow countries to reallocate some portion of profits...

The Federal Inland Revenue Service (FIRS) has issued a public notice to inform taxpayers of its plan to commence a nationwide compliance check of VAT and WHT with effect from Monday 12 October 2015.

The Federal Inland Revenue Services (FIRS) has started writing to banks to appoint them as collection agents of taxpayers considered to be in default of tax payments.

The Kano State government recently introduced a 5% consumption tax payable on the consumption of goods and services in any hotel, restaurant, eatery, bakery, takeaway, suya spot, shopping mall, store, event centre ...

In 2017, the Federal Inland Revenue Service (FIRS) announced the introduction of six (6) new electronic services.

The Nigeria Employers' Consultative Association (NECA) has provided guidance to member organisations on how to deal with employment contracts and salary obligations to employees due...

On 18 November 2020, the CBN, issued a follow up circular further to its earlier notice of 24 August 2020, which directed authorised dealers against issuing Form Ms for imports where payments were not made directly to the ultimate supplier.

The Minister for Budget and National Planning, Udoma Udo Udoma and the Executive Chairman of the FIRS, Babatunde Fowler hinted during an interactive session with the National Assembly on Tuesday 19 March 2019...

The Nigerian economy has been growing steadily at over 5% per annum for some years now.

Towards the end of 2018, the FIRS began to employ an aggressive tool called "substitution order". It involves appointing a 3rd party holding the asset or funds of a tax defaulter as an agent to pay the tax.

Despite headwinds, Nigeria's nominal GDP breached the NGN100trillion mark for the first time ever in 2016.

The Federal Inland Revenue Service (FIRS) has issued a circular to clarify some of the changes to the Companies Income Tax Act (CITA) introduced by the Finance Act (FA) 2019.

The tax authorities are seeking to limit the amount that can be made by an employee as VC to one-third of the employee's salary based on the provisions of S.5(7) of the Labour Act.

The federal government has gazetted an amendment to the Withholding Tax Regulations 1997.

The Nigeria Immigration Service has released guidelines for migrants e-registration requiring foreigners to register not later than 31 December 2019 or face sanctions.

On 30 June 2020, an Inter-Ministerial Committee for the Audit and Recovery of Back-Years Stamp Duties (the committee) was inaugurated and the Federal Inland Revenue Service (FIRS)...

Below is the Compendium of Investment Incentives in Nigeria recently published by the Nigerian Investment Promotion Commission (NIPC) and the Federal Inland Revenue Service (FIRS).