Federal Inland Revenue Service (FIRS) has allowed additional time for tax defaulters to enjoy penalty and interest waiver by two (2) months. The tax waiver covers outstanding tax payments on…
Federal Inland Revenue Service (FIRS) extends the time for tax defaulters to enjoy penalty and interest waiver by one month. To enjoy the waiver of penalties and interests, a taxpayer…
Federal Inland Revenue Service (FIRS) has introduced specific steps to lower the impact of COVID-19 risk on taxpayers and other stakeholders. The response focuses extension of time to file returns,…
While Nigeria was trying to recover from the economic disruption from the COVID-19 pandemic, another nationwide lockdown emerged in October 2020. The lockdown was an outcome of the EndSARS protest.…
The Federal Inland Revenue Service (FIRS) has added another waiver to taxpayers in Nigeria. Companies with accounting year-end of December 2019 have an additional time of one-week from July 31st…
The COVID-19 pandemic has changed the way businesses sustain their operations; likewise, the tax and regulatory authorities. A tax authority may choose from two options in the post COVID-19 economy.…
Federal Inland Revenue Service (FIRS) has issued an information circular to clarify the amendments to the Value Added Tax (VAT) Act 2004 in the Finance Act 2019. The circular covers…
Nigerian President has approved the waiver of Value Added Tax (VAT) and import duty for essential medical equipment and supplies. It takes effect from May 1, 2020, and is valid…