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. EndSARS is a movement to stop police brutality in Nigeria…
Welcome to the monthly series on Nigeria Tax Highlights. In this summary, we have put together the top 5 events that will bring us up to speed with the Nigerian taxation for July 2020. Here are the five (5) blog…
Further to the tensions of Lagosians on the exorbitant rates for land use charge, the Lagos State Government has issued a reform that will ease the financial burden of residents. The Lagos State Government (LASG) has, therefore, reversed the rates…
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 to file their 2020 income tax returns. The new deadline…
At this time of the year, we must still hope for the best before the year ends. Good things do happen in the second half of a year. In this summary, we have put together the top 3 events that…
After the tax authority conducts an audit on business records, the next step is usually a tax audit reconciliation meeting. The purpose is to resolve any outstanding tax issues in a physical visit to the tax office. However, the COVID-19…
May 2020 had the highest number of tax events compared to other months in the year. While the economy was opening after the post-COVID 19, the government was releasing several tax updates. The tax news came from tax authorities, Finance…
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 must liquidate the outstanding tax liabilities on or before 30…
