FIRS Issues Public Notice on Expiration of Waiver of Interest and Penalty on TaxPro-Max Platform
The Federal Inland Revenue Service (FIRS) launched its online platform – TaxPro-Max, in June 2021,...
What Businesses and Consumers Need to Know About the eNaira
The eNaira is the Central Bank of Nigeria (CBN)’s digital currency which is set to be launched off...
15 Ways Nigerian Businesses can be Impacted, if State Governments Win the Case for VAT collection.
As the case for constitutionality of Value Added Tax (VAT) and the appropriate authority for its col...
The FRC Issues Public Notice to Remind Public Interest Entities and Professionals, of their Filing Requirements and Financial Obligations Under the FRC Act
The Financial Reporting Council of Nigeria (FRC), has through its Public Notice of 16 August 2021, r...
Internal Control Over Financial Reporting (ICFR) – SEC Issues Framework on Implementation of Sections 60 to 63 of ISA, 2007
A company’s internal control over financial reporting is a process designed by, or under the super...
CBN Issues Guidelines on Shared Service Arrangements for Banks and Other Financial Institutions
Earlier in 2019, the Central Bank of Nigeria (CBN) issued an Exposure Draft of its Guidelines on Sha...
FIRS Issues Guidelines for Approved Enterprises Operating in Free Trade Zones to File Income Tax Returns
The Finance Act 2020, which came into effect on 1st January 2021, amended Section 18(1) of the Niger...
An Overview of the Petroleum Industry Act, 2021
Introduction The Petroleum Industry Act was signed into law by President Muhammadu Buhari on Monday,...
Rivers State, FIRS and Value Added Tax (VAT)
On 9 August 2021, the Federal High Court, Port Harcourt division, issued a very controversial ruling...
Tax Filing Deadline
Wednesday, 30 June 2021, is the deadline for Nigerian companies with financial year end of 31 Decemb...