The Minister of Industry, Trade, and Investment has issued the Industrial Inspectorate Regulations 2022 (Regulations). The Regulations show the application and collection fees for an acceptance certificate in Nigeria. Where a company does not meet the rule, FIRS may remove…
Introduction The Federal Inland Revenue Service (FIRS) has released a circular on the withholding of value added tax (VAT) in Nigeria in line with the provisions of the VAT Act 2004 (as amended). 1.0 Legal basis A taxable person who…
Federal Inland Revenue Service (FIRS) has released a public notice on the filing of tax returns at the tax office closest to taxpayers’ operations. The announcement is in line with FIRS segmentation policy and industry-specific rules for taxing activities, including…
Introduction Federal Inland Revenue Service (FIRS) has released a new procedure, of less than 1 minute, for obtaining a tax clearance certificate (TCC). However, the new rule is subject to payment of outstanding taxes and will take effect from 1…
The Federal Inland Revenue Service (FIRS) has waived interest and penalty for taxpayers on the TaxPro Max. FIRS waiver is in response to the additional interests and penalties on liabilities from monitoring, desk review, tax audit, and tax investigation when…
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…
Recently the Federal Inland Revenue Service (FIRS) released a public notice on real-time direct collection of taxes from online gaming transactions. FIRS has an automated tax collection process for online gaming businesses, whether local or foreign. Taxes will be deducted…
1.0 Introduction The Federal Inland Revenue Service (FIRS) has released an information circular dated September 1, 2022 for administering the National Agency for Science and Engineering Infrastructure Levy (NASENI levy). The levy relies on the National Agency for Science and…
