On 22 January 2020, the Tax Appeal Tribunal in South-South zone decided that a tax authority is not allowed to carry out PAYE tax audit on a taxpayer beyond 6 years except in cases of fraud, wilful default or neglect; in the case…
The Federal Government of Nigeria (FGN) has published the Finance Act, 2019, in the Official Gazette. FGN amended the provisions of seven tax laws in a single Act. While President Muhammadu Buhari signed the Finance Act into law on 13 January 2020, the…
Recently, the Federal Inland Revenue Service (FIRS) issued a public notice on the filing of tax returns based on segment. Before a taxpayer can pay tax in Nigeria, the company or individual must register for taxes with the relevant tax authority. There are two types…
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 out of 190…
According to the Personal Income Tax Act (PITA) Cap P8 LFN 2011 (as amended), every employer shall file employer tax returns (Form H1) with the relevant tax authority by 31 January. The Lagos State Internal Revenue Service (LIRS) has issued a public notice…
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 list continues. We’ve…
Compliments of the season. Welcome to BRC’s monthly series on Tax Highlights in Nigeria. It’s the final edition for the year 2019. Tax events in December 2019 did not slow down despite the festive mood at fiscal year-end. Here are four (4) top events that shaped…
Nigeria has a tax treaty or double taxation agreement (DTA) with 16 countries. A tax treaty is a bilateral agreement between two countries that helps to settle issues on double taxation. Four (4) legislation on income tax already contains rules on double taxation…
