The World Bank (WB) recently released its Ease of Doing Business 2020 Report. Each year, WB releases this report that compares business regulation for local firms in 190 economies. Nigeria’s ranking jumped from 146 to 131; representing its second-highest annual progress…
The World Bank (WB) released the much-awaited Ease of Doing Business 2019 Report on 31 October 2018. Each year, WB releases the Ease of Doing Business report which compares business regulation for local firms in 190 economies. Nigeria’s ranking fell from 145…
The World Bank (WB) brought a soothing relief to the Nigerian economy with its Ease of Doing Business 2018 Report. Each year, WB releases this report which compares business regulation for local firms in 190 economies. Nigeria’s ranking soared from…
Welcome to BRC‘s monthly series on Tax Highlights in Nigeria. It is the last quarter of the year. On October 1st, the nation celebrated 59 years of independence. Back to tax matters, here are five (5) major events that shaped the Nigeria…
Recently, the Nigerian Senate passed a bill to revoke and reenact the Companies and Allied Matters Act. An individual intending to form a company can explore beyond the sole-proprietorship option. The proposed Act would reduce the “2 or more persons”…
The Nigerian Investment Promotion Commission (NIPC) has launched an online portal (iGuide Nigeria) for investors seeking to conduct business in Nigeria. The iGuide Nigeria emerged as a collaboration between NIPC, the United Nations Economic Commission for Africa (UNECA) and United…
Federal Inland Revenue Service (FIRS) has introduced a new feature to ease the registration of new taxpayers in Nigeria. The self-registration module on TaxPro Max allows taxable persons to register for taxes with FIRS online. Taxpayers can now register with…
Paying taxes is one of the four parameters that need major reform in the Ease of Doing Business in Nigeria. A taxpayer in Nigeria needs 347.4 hours to complete the tax compliance cycle which makes the country ranks as 159th…
Nigeria had over 100 tax news in 2019, and in those, we covered a whole lot. Tax disputes, amendment bills, new legislation, public notices, circulars, the lien on bank accounts, tax treaty, transfer pricing, doing business in Nigeria — the…
The Federal Inland Revenue Service (FIRS) has started issuing Notice of Refusal to Amend (“NORA” or “the notice”) to companies with open tax audit exercises. Companies affected by the notice include; taxpayers that have previously objected to FIRS demand notice…
