Vi-M Professional Solutions Tax Treaties, Withholding Tax June 3, 2022 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... Read More
Vi-M Professional Solutions Value Added Tax, Withholding Tax June 2, 2022 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... Read More
Vi-M Professional Solutions Tax, Tax Alert, Tax Services May 9, 2022 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... Read More
Vi-M Professional Solutions Finance Act 2021, General, Tax March 21, 2022 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... Read More
Vi-M Professional Solutions Finance Act 2021 February 10, 2022 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... Read More
Vi-M Professional Solutions Finance Act 2021 February 10, 2022 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... Read More
Vi-M Professional Solutions Finance Act 2021 February 10, 2022 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... Read More
Vi-M Professional Solutions Finance Act 2021 February 10, 2022 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... Read More
Vi-M Professional Solutions Finance Act 2021 February 10, 2022 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... Read More
Vi-M Professional Solutions Finance Act 2021 February 10, 2022 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... Read More