FIRS Issues Public Notice on New Tax Treaty WHT Rates
In a recent Public Notice (view here), the Federal Inland Revenue Service (FIRS), announced, that th...
FIRS To Carry Out Nationwide VAT and WHT Compliance Monitoring Exercise
In its Public Notice of 1 June 2022 (view here), the Federal Inland Revenue Service (FIRS), has anno...
FIRS Issues Public Notice, Demanding the Submission of Certificate of Acceptance of Fixed Assets (CAFA) by Companies
In its Public Notice of 9 May 2022 (view here), the Federal Inland Revenue Service (FIRS), is demand...
CAC to stop registering Educational Institutions as Business Names
On 10 March 2022, the Corporate Affairs Commission (CAC) informed the general public, through its Pu...
Finance Act 2021 Series 18: The Minister of Finance now has the responsibility to regulate Stamp Duty & Electronic Money Transfer Levy
The Finance Act 2021 has now bestowed on the Minister of Finance, the power and responsibility to ma...
Finance Act 2021 Series 17: Export profits from Upstream, Midstream & Downstream Petroleum operations no longer exempt from CIT
Prior the Finance Act 2021, the profits of any Nigerian company in respect of goods exported from Ni...
Finance Act 2021 Series 16: Taxpayers can now pay CIT in instalments without prior approval by the FIRS
Prior the Finance Act 2021, before any taxpayer could make payments of companies’ income tax in in...
Finance Act 2021 Series 15: Laws pertaining to Insurance companies now simplified and redefined
Prior the Finance Act 2021, stakeholders had clamoured for the simplification and rewording of the i...
Finance Act 2021 Series 14: Gas utilisation businesses to claim tax free period only once in a lifetime
A company engaged in a trade or business of gas utilisation in downstream operations in Nigeria is e...
Finance Act 2021 Series 13: Capital allowance claim for companies’ income tax offset now restricted
Where a company has both taxable and non-taxable (tax-exempt) income streams, capital allowance comp...