The Federal Inland Revenue Service (FIRS) has issued a Public Notice appointing MTN, Airtel, and all money deposit banks as collection agents of VAT (value added tax). FIRS’ appointment is in line with Section 14(3) of the VAT Act 2004…
Federal Internal Revenue Service (FIRS) has released guidelines on a simplified compliance regime for value added tax for non-resident suppliers (The Guidelines). The Guidelines clarify the obligations and procedures for value added tax (VAT) compliance by non-resident suppliers (NRS) supplying…
Tax is a compulsory charge by the government on the goods, services, income, or profits of persons. There are different parameters for determining who, when, how, and where to pay taxes in Nigeria. After a taxable person registers for tax,…
The central tax authority in Nigeria has launched an online portal for tax filing and administration affairs. Taxpayers can register a new business, make payments, and access their withholding tax status through TaxPro Max, an online portal. TaxPro Max is…
The Federal Inland Revenue Service (FIRS) has launched the TaxPro MAX portal for payment and filing of tax returns. Taxable persons in Nigeria and non-resident persons can use the new portal for tax processes. FIRS user guide for value added…
The Tax Appeal Tribunal (TAT) ruled that sales in the ordinary course of business are not subject to withholding tax (WHT). The decision was reached in a WHT dispute on 30 November 2020 between Tetra Pak West Africa Limited and…
The Federal Inland Revenue Service (FIRS) has issued a Public Notice on stamp duties in the Stamp Duties Act as amended by the Finance Act 2019 (SDA). Stamp Duty is a charge either a fixed rate or ad valorem rate,…
The Federal Inland Revenue Service (FIRS) has released three new forms for filing monthly Value Added Tax (VAT) returns. Two VAT Form 002 that applies to head office and branch office while the third Form 006 is for withholding VAT…
In May 2020, the Minister of Finance, Budget, and National Planning released the Value Added Tax (Modification) Order 2020 or Order. The Order contained comprehensive details of the items that are exempt from Value Added Tax (VAT). Section 38 of…
The Federal Government (FG) has inaugurated an Inter-Ministerial Committee for the Audit and Recovery of Back-Years Stamp Duties. FG also launched the Federal Inland Revenue Service (FIRS) Adhesive Stamp. Both events took place on 30 June 2020. Members of the…