Mondaq All Regions - Nigeria: Tax
Andersen Tax LP
On 11 September 2019, the Federal Executive Council (FEC) approved an increase in Value Added Tax (VAT) rate from 5% to 7.2%.
PwC Nigeria
The Federal Inland Revenue Service (FIRS) has issued the Income Tax (Common Reporting Standard) Regulations, 2019 (CRS Regulations).
Banwo & Ighodalo
The Act has significant tax implications for companies carrying on business operations in Nigeria.
Andersen Tax LP
The taxation of services supplied by non-resident foreign companies (NRCs) to Nigerian companies has been an issue of great debate in recent times.
Andersen Tax LP
On 20 August 2019, the Tax Appeal Tribunal (TAT or Tribunal) sitting at Enugu, held that a taxpayer may not be liable to taxes (including interest and penalties)
PwC Nigeria
The Tax Appeal Tribunal (TAT or Tribunal), in Polaris Bank v. Abia State Board of Internal Revenue has made pronouncements on a number of different tax matters including:
PwC Nigeria
The National Office for Technology Acquisition and Promotion ("NOTAP) was established by the NOTAP Act, Cap. N62 LFN 2004 to monitor the transfer of foreign technology into Nigeria.
Andersen Tax LP
The introduction of withholding tax (WHT) provisions in the Nigerian tax laws in 1977, imposed on taxpayers the obligation to deduct tax at source on payments for qualifying transactions.
AO2 Law
Following the recent ‘naming and shaming' of tax defaulters and their bankers by the Federal Inland Revenue Service (‘FIRS' or "the Service", used interchangeably)
PwC Nigeria
VAT stands for Value Added Tax.
AELEX
Arguably, the most basic principles in business are minimising cost and maximising profit.
Andersen Tax LP
Based on international trade convention, every country is allowed to adopt laws, rules and regulations that govern its trade relationships with other countries
Deloitte Nigeria
The Tax Appeal Tribunal (TAT or the Tribunal), on 21 August 2019, in the case between Polaris Bank PLC (Polaris or the Appellant) V. Abia State Board of Internal Revenue (ASBIR or the Respondent)
Andersen Tax LP
In the first quarter of 2019, Nigeria recorded an increase of about 216% in foreign capital and investments when compared to the previous quarter.1
Andersen Tax LP
One of the key objectives of the Income Tax (Transfer Pricing) Regulations, 2018 (NTPR) as captured in regulation 2(e) is to provide taxable persons with certainty of transfer pricing treatment
Andersen Tax LP
On 14 August 2019, the Federal Inland Revenue Service (FIRS) issued a Public Notice (PN) on deduction of tax at source from compensations paid to agents by principal companies.
Deloitte Nigeria
Federal Inland Revenue Service (FIRS) on Monday, 19 August 2019, issued a public notice mandating companies with lien on their accounts to regularise their tax status
Andersen Tax LP
On 19 July 2019, the Organisation for Economic Cooperation and Development (OECD) released its report on harmful tax practices across various jurisdictions. The report indicates that Mauritius
Deloitte Nigeria
Federal Inland Revenue Service (FIRS) on Wednesday, 14 August 2019, issued a public notice informing taxpayers that commission and rebates earned by distributors and customers are subject
PwC Nigeria
The FIRS has issued a Public Notice on the deduction of withholding tax and VAT on compensation paid to agents, dealers, distributors and retailers by principal companies
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Strachan Partners
Tax administration in Nigeria is vested in the three tiers of government.
Banwo & Ighodalo
Nigeria is obliged to pay 2% of its assessable profit as Education Tax.
Deloitte Nigeria
Federal Inland Revenue Service (FIRS) on Wednesday, 14 August 2019, issued a public notice informing taxpayers that commission and rebates earned by distributors and customers are subject
Andersen Tax LP
On 19 July 2019, the Organisation for Economic Cooperation and Development (OECD) released its report on harmful tax practices across various jurisdictions. The report indicates that Mauritius
PwC Nigeria
The FIRS has issued a Public Notice on the deduction of withholding tax and VAT on compensation paid to agents, dealers, distributors and retailers by principal companies
Deloitte Nigeria
The Tax Appeal Tribunal ("TAT" or "the Tribunal") sitting in Enugu State on 20 June 2019 delivered a judgment in favour of Nigerian Breweries Plc ("Nigerian Breweries" or "Appellant")
Deloitte Nigeria
Federal Inland Revenue Service (FIRS) on Monday, 19 August 2019, issued a public notice mandating companies with lien on their accounts to regularise their tax status
Andersen Tax LP
The Financial Reporting Council of Nigeria (FRCN) has revoked Rule 4 of the FRCN Rules through a public notice (PN) dated 11 July 2019.
AELEX
Welcome to a new age in tax administration as the Joint Tax Board's ("JTB") new Tax Identification Number registration system ("the new system") goes live.
Andersen Tax LP
One of the key objectives of the Income Tax (Transfer Pricing) Regulations, 2018 (NTPR) as captured in regulation 2(e) is to provide taxable persons with certainty of transfer pricing treatment
Deloitte Nigeria
The Federal Inland Revenue Service (FIRS), on 22 October 2018, notified the general public that it has commenced issuance of value-added tax certificates to all new and existing taxpayers registered for VAT purposes.
Andersen Tax LP
On 18 February 2019, the National Assembly passed the National Housing Fund (NHF) Establishment Bill 2018 ("the NHF Bill").
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