Several non-essential businesses and workers stayed indoors in April 2020 due to the pandemic. As the Federal Government and State Government offered palliatives to citizens, so did FIRS to taxpayers. In case you missed the major tax headlines, here are…
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 for an initial period of six months. Items that can…
Apart from being the end of Quarter 1 2020, March 2020 was a defining moment in the Nigerian tax system. Tax and regulatory authorities had to issue various concessions due to the COVID-19 pandemic. In case you missed the major…
Lagos State Government has released Lagos State Infectious Diseases (Emergency Prevention) Regulations 2020 (the Regulation). The Regulation aims to prevent and lower the spread of COVID-19 in Lagos State. COVID-19, also referred to as Coronavirus, is a Dangerous Infectious Disease…
To lower the impact of COVID-19 on taxpayers, the Lagos State Internal Revenue Service (LIRS) has extended the time for filing the annual individual tax returns (Form A) by 2 months. The new deadline for filing Form A is 31…
One of the objectives of the Nigerian tax system is Flexibility. Taxes in Nigeria should be flexible enough to respond to the changing environment. Taxpayers are a major stakeholder in the Nigerian tax system. Without taxpayers or taxable activities in…
