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The enactment of the Finance Act 2020 on 13 January 2020 introduced various changes to principal tax legislations in Nigeria, among which are the commencement ...
Uche Nwokedi & Co
The Finance Act of 2020 (the Act) reviews and amends several tax legislations.
Andersen Tax LP
The Federal Inland Revenue Service ("FIRS" or "the Service") recently issued a Public Notice informing the public of its intention to automate Value Added Tax (VAT) ...
Brooks & Knights
The world over, every country has its own set of rules governing its coastal trade. Players in this sector either own the ships which are leased to charterers or lease vessels from vessel owners...
Udo Udoma & Belo-Osagie
On the 13th of January, 2020, President Muhammadu Buhari signed the Finance Bill (now Finance Act 2019 (the "Finance Act")) into law.
In its decision in an appeal filed by AGIMNL against the FIRS' assessments of VAT liability, the TAT held that AGIMNL was liable to pay the assessed VAT liability.
Andersen Tax LP
On 13 of January 2020, the President signed the Finance Act 2019 (‘the Act") into law. The implementation of the Act commenced in February 2020, as announced by the Federal Ministry of Finance.
Solola & Akpana
On May 24, 2019, the Court of Appeal in the case of Al-Maseer Law Firm v Federal Inland Revenue Services , held in a unanimous decision that lawyers in private practice are under a legal obligation to collect VAT from clients ...
PwC Nigeria
The Federal Inland Revenue Service (FIRS) audited the tax returns of Ecobank Nigeria Plc ("Ecobank", "the company" or the "Bank") relating to the 2015
Hermon Law
The Finance Act, 2019 came with copious far-reaching changes in the laws relating to major taxes in Nigeria.
Hermon Law
Knotty issues arising from Section 19 resulted in multifarious litigation which still lingered after several judicial decisions on the cases.
Hermon Law
The release further stated that the files of non-resident persons shall thenceforth be domiciled at the NRPTO.
Andersen Tax LP
High net-worth individuals (HNIs) and business owners set up structures that they hope will ensure their assets and investments are held efficiently to guarantee optimal returns...
Andersen Tax LP
On 19 February 2020, the Tax Appeal Tribunal (TAT or Tribunal), in the case between Prime Plastichem Nigeria Limited (Prime Plastichem or the Company) v Federal Inland Revenue Service
Andersen Tax LP
The Nigerian tax landscape has continued to witness significant changes, with the most recent being the presidential assent to the Finance Bill 2019 (now Finance Act) on 13 January 2020.
PwC Nigeria
On 19 February 2020, the TAT held that the ₦1.74 billion assessment issued by the FIRS to Prime Plastichem Nigeria Limited (PPNL)
Andersen Tax LP
The Federal Inland Revenue Service (FIRS or the Service) has recently issued three Public Notices to taxpayers with respect to the tax status of dormant companies, implementation of the...
Banwo & Ighodalo
The propriety of an administrative notice issued by the Federal Inland Revenue Service ("FIRS"), directing a bank to freeze an account of a customer allegedly in default of a tax obligation...
Andersen Tax LP
The Federal Inland Revenue Service (FIRS) has issued a Public Notice informing the general public on the appropriate FIRS office to file their tax returns.
Andersen Tax LP
The unrelenting drive to increase government revenue is apparent from the various measures being adopted by the Federal Government.
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