Tax Appeal Tribunal Rules on the First Transfer Pricing Case in Nigeria

February 25, 2020

Summary On 19 February 2020, the Tax Appeal Tribunal (TAT or Tribunal), in the case between Prime Plastichem Nigeria Limited […]

FIRS Issues Series of Public Notices on Tax Compliance and the Finance Act Implementation

February 21, 2020

Summary The Federal Inland Revenue Service (FIRS or the Service) has recently issued three Public Notices to taxpayers with respect […]

FIRS Issues Public Notice on the Segmentation of Tax Offices

January 30, 2020

The Federal Inland Revenue Service (FIRS) has issued a Public Notice informing the general public on the appropriate FIRS office […]

President Buhari Signs the Finance Bill, 2019 into Law

January 14, 2020

Summary On 13 January 2019, President Muhammadu Buhari signed the Finance Bill, 2019 (now Finance Act) into law. This development […]

NITDA to Issue Non-Compliance Notices to Defaulting Organizations

December 28, 2019

Summary The Nigeria Information Technology Development Agency (NITDA) has disclosed its intention to issue non-compliance notices to companies and organizations […]

Country-by-Country Reporting Regulations: Reminder on Key Obligations Deadline

Summary Companies that are part of a Multinational Enterprise (MNE) Group and have 31 December as their accounting year end […]

FIRS Issues Circular on the Claim of Tax Treaties Benefits in Nigeria

December 23, 2019

Summary The Federal Inland Revenue Service (FIRS) recently issued a Public Notice informing the general public of its Circular No: […]

FIRS Issues Public Notice on Nationwide Tax Enforcement

December 19, 2019

On 17 December 2019, the Federal Inland Revenue Service (FIRS) issued a Public Notice notifying all taxpayers (individuals, partnerships, enterprises, […]

TAT Rules on Eligibility to Benefit from VAIDS and Excess Dividend Tax

December 18, 2019

Summary On 24 September 2019, the Tax Appeal Tribunal (“TAT” or “the Tribunal”), sitting in Lagos, upheld the imposition of […]

TAT Rules on Liability of Franked Investment Income to Excess Dividend Tax

November 27, 2019

Summary On 8 November 2019, the Tax Appeal Tribunal (“TAT” or “the Tribunal”), sitting in Lagos, upheld the applicability of […]

President Buhari Assents to Deep Offshore Act Amendment Bill

November 5, 2019

Summary On 4 November 2019, President Muhammadu Buhari assented to the Deep Offshore and Inland Basin Production Sharing Contracts Act […]

Tax Appeal Tribunal Upholds Electronic Objection to Tax Assessment

October 24, 2019

Summary On 17 September 2019, the Tax Appeal Tribunal (“TAT” or “the Tribunal”), sitting in Lagos, upheld a notice of […]

FIRS Establishes a Non-Resident Persons’ Tax Office

October 23, 2019

Summary The Federal Inland Revenue Service (FIRS) has issued a Public Notice notifying the general public of the establishment of […]

Federal High Court Upholds State Government’s Powers to Collect Consumption Tax

October 17, 2019

Summary On 3 October 2019, the Federal High Court (“FHC” or “the Court”), sitting in Lagos, upheld the powers of […]

President Buhari Presents the 2020 Budget Proposal to the National Assembly

October 14, 2019

Summary On 8th October, 2019, President Muhammadu Buhari (the President) presented the 2020 budget proposal at a joint session of […]

Nigerian Investment Promotion Commission Releases Pioneer Status Incentive Report

October 8, 2019

Summary The Nigerian Investment Promotion Commission (NIPC) recently released its Pioneer Status Incentive (PSI) Report (“the report”) for the second […]

Reps Commences Investigation on the Non-Remittance of NSITF Levy

October 7, 2019

Summary The House of Representatives (HOR) has commenced an investigation on the non-remittance of the Nigeria Social Insurance Trust Fund […]

FIRS Releases Income Tax (Common Reporting Standard) Implementation and Compliance Guidelines 2019

October 3, 2019

Summary The Federal Inland Revenue Service (FIRS) has issued the Income Tax (Common Reporting Standard) Implementation and Compliance Guidelines (the […]

Lagos Internal Revenue Service Introduces Enterprise Tax Administration System

October 1, 2019

Summary The Lagos Internal Revenue Service (LIRS) recently introduced the Enterprise Tax Administration System (eTax) to enhance tax administration within […]

FIRS Releases Income Tax (Common Reporting Standard) Regulations 2019

September 19, 2019

Summary The Federal Inland Revenue Service (FIRS) recently released the Income Tax (Common Reporting Standard) Regulations (the Regulations), which is […]

Federal Executive Council Approves Increase in VAT Rate from 5% to 7.2%

September 13, 2019

On 11 September 2019, the Federal Executive Council (FEC) approved an increase in Value Added Tax (VAT) rate from 5% […]

Nigeria Police Trust Fund (Establishment) Act Introduces 0.005% Levy on the Net Profit of Companies

September 12, 2019

Summary On 24 June 2019, the Nigerian President signed the Nigeria Police Trust Fund (Establishment) Bill (“Police Trust Fund Act” […]

TAT Rules on Six Years Limitation Period and Validity of Some Taxes and Levies

September 6, 2019

Summary On 20 August 2019, the Tax Appeal Tribunal (TAT or Tribunal) sitting at Enugu, held that a taxpayer may […]

Federal High Court Affirms the Data Privacy Rights of Nigerian Citizens

August 30, 2019

Summary On 28 June 2019, the Federal High Court (“FHC” or “the Court”) affirmed the data privacy rights of Nigerian […]

FIRS Issues Public Notice on Taxability of Certain Compensation Payments

August 22, 2019

Summary On 14 August 2019, the Federal Inland Revenue Service (FIRS) issued a Public Notice (PN) on deduction of tax […]

OECD Declares Mauritius Partial Tax Exemption Regime as Not Harmful

August 16, 2019

Summary On 19 July 2019, the Organisation for Economic Cooperation and Development (OECD) released its report on harmful tax practices […]

FRCN Revokes its Requirement for Regulatory Approval for Financial Transactions

August 9, 2019

Summary The Financial Reporting Council of Nigeria (FRCN) has revoked Rule 4 of the FRCN Rules through a public notice […]

NITDA Grants a 3-month Extension to Data Controllers to File their Initial Data Protection Audit Report

July 31, 2019

Summary The National Information Technology Development Agency (NITDA) has granted a three-month extension to Data Controllers and Processors (organizations and […]

NITDA Commences Investigation of Banks, Telcos & Other Data Controllers and Issues Draft Data Protection Implementation Framework

July 16, 2019

Summary On 11 July 2019, the National Information Technology Development Agency (NITDA) issued a Press Statement disclosing its ongoing investigation […]

Tax Appeal Tribunal Holds that Excess Dividend Tax Applies to Previously Taxed Earnings

July 13, 2019

Summary On 5 July 2019, the Tax Appeal Tribunal (TAT or Tribunal) held that where a company pays out dividends […]

President Signs the Agreement Establishing the AfCFTA

July 9, 2019

Summary On 7 July 2019, President Muhammadu Buhari signed the Agreement Establishing the African Continental Free Trade Area (“AfCFTA Agreement” […]

Court of Appeal Rules that Imported Services are Subject to VAT in Nigeria

July 8, 2019

Summary On 24 June 2019, the Court of Appeal (COA or the Court) affirmed the decision of the Federal High […]

Tax Appeal Tribunal Rules that Mortgage Institutions are not Liable to Value Added Tax

July 5, 2019

Summary On 19 June 2019, the Tax Appeal Tribunal (TAT or Tribunal) held that mortgage institutions are not liable to […]

Tax Appeal Tribunal Rules that Gratuity Payments are Tax Exempt

June 28, 2019

Summary On 20 June 2019, the Tax Appeal Tribunal (TAT or the Tribunal) sitting in Abia State held that gratuities […]

Tax Appeal Tribunal Rules that Employers cannot be Held Liable for Tax on Employees’ Voluntary Pension Contribution

June 25, 2019

Summary On 18 June 2019, the Tax Appeal Tribunal (TAT or Tribunal) held that the Lagos State Internal Revenue Service […]

LIRS to Use Taxpayers’ Bank Verification Numbers for Unique Biometric Identification

June 11, 2019

Summary Recently, the Lagos State Internal Revenue Service (LIRS) issued a Public Notice (PN) disclosing its intention to integrate the […]

FIRS to Enforce Collection of VAT on Online Transactions

May 23, 2019

On 18 May 2019, the Chairman of the Federal Inland Revenue Service (FIRS), Mr. Babatunde Fowler, disclosed that the FIRS […]

FCCPC and SEC to Collaborate on Merger Notification Reviews

May 9, 2019

Summary On 3 May 2019, the Securities and Exchange Commission (SEC) and the Federal Competition and Consumer Protection Commission (FCCPC) […]

Court of Appeal Orders the Retrial of a Case at the Federal High Court

April 18, 2019

Summary On 29 March 2019, the Court of Appeal (COA) set aside the decision of the Federal High Court (FHC) […]

Updates on Pioneer Status Income Tax Incentive Scheme in Nigeria

April 10, 2019

Summary The Nigerian Investment Promotion Council (NIPC) recently released its Pioneer Status Incentive (PSI) Report for the fourth quarter of […]

Presidency Rejects National Housing Fund (Establishment) Bill

April 3, 2019

Summary On 2 April 2019, the Senate, during its plenary, announced that President Muhammadu Buhari declined assent to the National […]

The Deadline for Filing Annual Returns of Income and Claims is 31 March 2019

March 27, 2019

Summary Section 41 of the Personal Income Tax (PIT) Act mandates all persons who are taxable under the PIT Act […]

FIRS Resumes “Freezing” of Taxpayers’ Bank Accounts

March 21, 2019

Summary Following the suspension of lien placed on the bank accounts of alleged non-compliant taxpayers in February 2019, the Federal […]

National Assembly Passes the National Housing Fund Establishment Bill 2018

March 20, 2019

Summary On 18 February 2019, the National Assembly passed the National Housing Fund (NHF) Establishment Bill 2018 (“the NHF Bill”).  […]

Court of Appeal Rules on a Tax Authority’s Powers to Distrain Taxpayers

February 21, 2019

Summary On 26 November 2018, the Court of Appeal (COA or the Court) held that the Ekiti State Board of […]

FCT High Court Rules on the Imposition of Taxes and Levies by Local Government Councils

February 18, 2019

Summary On 14 January 2019, the High Court of the Federal Capital Territory (“FCT High Court” or “the Court”) held […]

FIRS Temporarily Suspends Lien on Taxpayers’ Bank Accounts

February 16, 2019

On 15 February 2019, the Federal Inland Revenue Service (FIRS), in a letter, directed banks in Nigeria to suspend the […]

Court of Appeal Rules on the Taxability of an Educational Institution

February 2, 2019

Summary On 11 December 2018, the Court of Appeal (COA or the Court), in the case between Best Children International […]

Presidency Signs Executive Order on Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme

January 26, 2019

Summary On 25 January 2019, President Muhammadu Buhari signed Executive Order (EO) 007 on the Road Infrastructure Refurbishment and Development […]

Federal High Court Holds that FIRS Lacks the Powers to Impose Turnover Assessment on the Value of Properties

January 22, 2019

Summary On 29 November 2018, the Federal High Court (the Court) delivered a Judgment on the imposition of turnover assessment […]

Lagos State High Court Rules that the Tax Appeal Tribunal has Original Jurisdiction to Determine Matters Relating to Personal Income Tax

December 7, 2018

Summary On 13 November 2018, in the case between Lagos State Board of Internal Revenue (LIRS) vs Ecoserve Limited (Ecoserve), […]

Assessment Appeal Tribunal for Lagos Land Use Charge Commences Resolution Week

November 28, 2018

Summary The Lagos State Land Use Charge Assessment Appeal Tribunal (Tribunal) has commenced its Land Use Charge Resolution Week (Program). […]

Tax Appeal Tribunal Commences Sittings

November 22, 2018

Summary  On 19 November 2018, the Tax Appeal Tribunal (TAT) commenced sittings in all its zones after a period of […]

Updates on Pioneer Status Incentive Scheme in Nigeria

November 9, 2018

Summary The National Investment Promotion Commission (NIPC) has released the gazette list of Pioneer industries and products. The Federal Government […]

Supreme Court Orders Federal Government to Increase its Revenue Share under Oil Production Sharing Contracts

November 7, 2018

Summary On 17 October 2018, the Supreme Court delivered a Consent Judgment in the case between the Attorney-General (A.G.) of […]

Federal Government Swears in Newly Appointed Tax Appeal Commissioners

The Honourable Minister of Finance (Minister), Zainab Shamsuna Ahmed, has sworn in the newly selected Commissioners for the recently reconstituted […]

PENCOM Releases Guidelines on Voluntary Pension Contribution

November 1, 2018

Summary On 25 October 2018, the National Pension Commission (PENCOM) published Guidelines on Voluntary Contribution (VC) under the Contributory Pension […]

Mauritius Enacts Finance (Miscellaneous Provisions) Bill 2018

October 24, 2018

Summary The Finance Act contains key provisions to implement certain tax and regulatory changes that will significantly impact investments in […]

Federal Government Launches the Voluntary Offshore Assets Regularization Scheme

October 12, 2018

Summary The Federal Government has launched the Voluntary Offshore Assets Regularization Scheme (VOARS or the Scheme). Reportedly, the Scheme is […]

FIRS Issues Public Notice and Guidelines on Revised Transfer Pricing Regulations and Documentation

October 8, 2018

Summary The FIRS has issued a Public Notice (PN) providing additional information on its recently released Income Tax (Transfer Pricing) […]

Presidency Signs Bill to Demutualise the Nigerian Stock Exchange

October 5, 2018

Summary President Muhammadu Buhari signed the Demutualisation of the Nigerian Stock Exchange Bill (Demutualisation Bill or the Bill) into law […]

Federal High Court Rules that Supply of Goods and Services by a Non-Resident Company to a Nigerian Company is liable to VAT in Nigeria

September 26, 2018

Summary On 19 June 2018, the Federal High Court (FHC) set aside the decision of the Tax Appeal Tribunal (TAT […]

Federal Government Releases Flare Gas Regulations

September 21, 2018

Summary The Federal Government has released the Flare Gas (Prevention of Waste and Pollution) Regulations, 2018 (the Regulations). The Regulations, […]

FIRS Issues Public Notice on Notification Requirements for Multinational Enterprises

September 18, 2018

Summary The Federal Inland Revenue Service (FIRS or the Service) has issued a Public Notice (PN) on the notification requirements […]

Key Takeaways from the FIRS’ Stakeholders’ Meeting

September 14, 2018

Summary The Federal Inland Revenue Service (FIRS) recently organised a meeting with various stakeholders on tax matters to discuss some […]

Federal High Court Rules that Payments for Gas Flaring Activities are not Tax-Deductible

September 13, 2018

Summary On 25 June 2018, the Federal High Court (FHC) Lagos, in the case of the Federal Inland Revenue Service […]

FIRS Issues Guidelines on Utilization of Withholding Tax Credits

September 5, 2018

Summary Further to the commencement of the ongoing review and reconciliation exercise on taxpayers’ Withholding Tax (WHT) credit balances by […]

FIRS Releases Revised Transfer Pricing Regulations

August 29, 2018

Summary The Federal Inland Revenue Service (FIRS) recently released the revised Income Tax (Transfer Pricing) Regulations 2018 (the Regulations) which […]

Mauritius Set to Introduce Significant Tax Reforms

August 27, 2018

Summary The Mauritian Prime Minister, Hon. Pravind Kumar Jugnauth, recently presented the 2018/2019 Mauritian budget speech to the National Assembly […]

Reconciliation of Tax Position vis-à-vis Withholding Tax Utilization

August 17, 2018

Summary The Federal Inland Revenue Service (FIRS) has commenced an exercise for the review of taxpayers’ unutilised withholding tax (WHT) […]

FIRS to Manage Defaulting Taxpayers’ Bank Accounts

Summary The Federal Inland Revenue Service (FIRS) recently started issuing letters to commercial banks, directing them to set aside alleged […]

Federal High Court Rules that Telecommunication Mast Sites do not Constitute Business Premises for Tax Purposes

August 2, 2018

Summary The Federal High Court (FHC) recently held, in the case between IHS Nigeria Limited (IHS) vs Attorney General of […]

FIRS Issues Notice to Taxpayers with Annual Turnover of N1 Billion and above

July 27, 2018

Summary On 24 July 2018, the Federal Inland Revenue Service (FIRS) issued a Public Notice (PN) addressed to taxpayers with […]

Lagos State High Court Rules on Power to Determine Matters Relating to Personal Income Tax

July 20, 2018

Summary On 20 June 2018, in the case between Chemiron International Limited (Chemiron) vs Lagos State Board of Internal Revenue […]

FIRS Issues Administrative Documents for the New Income Tax (CbCR) Regulations in Nigeria

July 16, 2018

Summary On 11 July 2018, the Federal Inland Revenue Service (FIRS) released some administrative documents to aid in the implementation […]

Federal Government Reconstitutes the Tax Appeal Tribunal

July 13, 2018

The Federal Government has reconstituted the Tax Appeal Tribunal (TAT) across the six geopolitical zones as well as Lagos State […]

Federal High Court Upholds NOSDRA’s Powers to Impose Sanctions Without Recourse to the Court

July 9, 2018

Summary On 24 May 2018, the Federal High Court (FHC) upheld the powers of NOSDRA to impose sanctions without recourse […]

Federal Government Releases Income Tax (Country by Country Reporting) Regulations

June 20, 2018

The Federal Inland Revenue Service (FIRS) has released the Income Tax (Country by Country Reporting) Regulations, 2018 (the Regulations) which […]

Federal Executive Council Approves Two Executive Orders and Five Amendment Bills

June 7, 2018

Summary On 6 June 2018, the Federal Executive Council (FEC) approved two Executive Orders and five Amendment Bills. Amongst other […]

Federal High Court: Payments for Gas Flaring without Prior Permission of the Minister are not Tax-Deductible

June 1, 2018

Summary On 26 March 2018, the Federal High Court (FHC) held, in a case between the Federal Inland Revenue Service […]

Senate Passes Companies and Allied Matters Act (Repeal and Re-enactment) Bill 2018

May 22, 2018

Summary On 15 May 2018, the Senate passed the Companies and Allied Matters Act (Repeal and Re-enactment) Bill 2018 (The […]

National Assembly Commences Public Hearing on Petroleum Industry Reform Bills

May 17, 2018

Summary On Wednesday, 15 May 2018, the lower house of the National Assembly, the House of Representatives, commenced a Public […]

High Court Prohibits Collection of Tenement Rates in the Federal Capital Territory

May 8, 2018

Summary On 12 April 2018, the High Court of the Federal Capital Territory (the Court), Abuja held that the collection […]

NERC Issues “Meter Asset Provider” Regulations

April 24, 2018

Summary The Nigerian Electricity Regulatory Commission (NERC or the Commission) issued the Meter Asset Provider (MAP) Regulations 2018 (Regulations) on […]

Senate Passes Industrial Development (Income Tax Relief) Act (Amendment) Bill 2018

Summary The Senate passed the Industrial Development (Income Tax Relief) Act (Amendment) Bill 2018 (The Bill) on 12 April 2018. […]

Presidency Signs Two Instruments of Ratification

April 19, 2018

Summary President Muhammadu Buhari has given his assent to Nigeria’s Double Tax Agreement (DTA) with Singapore and a Memorandum of Understanding […]

Supreme Court Rules on Supremacy of VAT Act Over Lagos State Sales Tax Law

April 16, 2018

Summary On 8 December 2017, the Supreme Court affirmed the Court of Appeal’s decision on the illegality of Sales Tax collection. […]

Federal Government Extends VAIDS Deadline to 30 June 2018

April 12, 2018

The Federal Government has extended the deadline for the Voluntary Assets and Income Declaration Scheme (VAIDS or ‘the Scheme’) to 30 […]

Filing of Annual Returns of Income and Claims Falls Due on 31 March 2018

March 26, 2018

Summary The deadline for filing PIT returns for the 2017 tax year is 31 March 2018. The requirement to file […]

Federal Government Increases Excise Duty Rates for Tobacco and Alcoholic Beverages

March 15, 2018

Summary President Muhammadu Buhari has approved an increase in the excise rates on tobacco and alcoholic beverages effective 4 June […]

Federal Government Identifies 130,000 High Net Worth Individuals and Companies with Potential Tax Underpayments

March 7, 2018

On Tuesday, 6 March 2018, Nigeria’s Honourable Minister of Finance, Mrs. Kemi Adeosun, stated in a televised broadcast that the […]

National Pension Commission Issues Public Notices on Compliance with the Pension Reform Act, 2014

Summary The National Pension Commission (PENCOM) recently issued two separate Public Notices (PNs) to employers and employees on certain compliance […]

The LIRS to Commence Automated Monitoring of Consumption Tax

February 22, 2018

The Lagos State Internal Revenue Service (LIRS) recently issued the Hotel Occupancy and Restaurant Consumption (Fiscalisation) Regulation (the Regulation), in […]

United Kingdom Introduces New Unexplained Wealth Orders

February 17, 2018

The United Kingdom (UK) government recently amended the Proceeds of Crime Act 2002, via the UK Criminal Finances Act, 2017 (the […]

Personal Income Tax Act (Amendment) Bill 2018

February 15, 2018

A Personal Income Tax Act (Amendment) Bill 2018 (the Bill) was recently presented before the House of Representatives for deliberation. […]

FHC Ruling on Vodacom v. FIRS on Supply of Bandwidth Capacities

February 13, 2018

Summary The Federal High Court (FHC), on 19 December 2017, affirmed the decision of the Tax Appeal Tribunal (TAT or […]

FCT-IRS Commences Operations – Issues New Data Collection Forms

February 2, 2018

In line with a recently issued Joint Statement by the Federal Inland Revenue Service (FIRS) and the Federal Capital Territory […]

FGN Signs the Income Tax (Country-by-Country Reporting) Regulations

January 25, 2018

The Federal Inland Revenue Service (FIRS) through its official twitter handle communicated that the Income Tax (Country by Country Reporting) […]

House of Representatives Passes Petroleum Industry Governance Bill

January 22, 2018

The House of Representatives passed the Petroleum Industry Governance Bill (PIGB) on Wednesday, 17 January, 2018; almost 8 months after […]

Filing of 2017 Employees’ Annual Returns

January 17, 2018

As you may be aware, Section 81(2) of the Personal Income Tax Act CAP P8 LFN 2004, as amended, (PITA) […]

Andersen Global Initiates Expansion in Tanzania

December 9, 2017

Andersen Global is proud to announce its collaboration with East African Law Chambers, a leading legal and tax firm in […]

Andersen Global Announces Expansion in Uganda

November 25, 2017

Andersen Global is proud to announce a presence in Uganda by way of a Collaboration Agreement with Ligomarc Advocates, a […]

Andersen Global Initiates Expansion in Kenya

October 8, 2017

Andersen Global is pleased to announce a new presence in Africa through a collaboration with Nexus Business Advisory Limited (Nexus), […]

Andersen Tax Debuts in Africa

July 8, 2017

Andersen Tax makes its debut in Africa as the former Partners of WTS ADEBIYI & Associates, a tax firm based […]