Nigeria’s Federal Inland Revenue Service (FIRS) has issued a regulation on the automatic exchange of information with 112 countries (2022) on financial accounts. The co-operation of tax authorities in different countries will help to reduce tax evasion and enhance the reliability…
On 24 June 2019, the Court of Appeal (CoA), supported the ruling of the Federal High Court (FHC), in Vodacom Business Nigeria Limited (Vodacom) and Federal Inland Revenue Service (FIRS) on the issue of value-added tax (VAT) on imported services…
Businesses engaged in cross-border transactions must address the impact of their operations in another country. One of the vital issues is international tax, including double taxation and transfer pricing adjustment. This could lead to a tax dispute between a taxpayer…
Each country has its own tax laws. Nigeria, for instance, adopts the residency principle while some countries apply the source principle in deciding whether a taxpayer will pay tax in that jurisdiction. Hence, if a business is tax resident in…
Global mobility will be easier if employment tax rates are the same in every country. Well, it isn’t! The tax liability of an employee often changes during an international assignment. If an expatriate is tax resident in a foreign country,…
Multinational companies often send employees to another country for business purposes. It could be a formal or an informal assignment. An example of an employee on formal assignment is an expatriate. An expatriate is a person residing in another (host)…
The Federal High Court, Lagos (“FHC”) has revoked the decision of the Tax Appeal Tribunal (“TAT”) in Gazprom Oil and Gas Nigeria Limited (Gazprom) v. Federal Inland Revenue Service (FIRS) relating to services which Gazprom received from a non-resident company.…
