The central tax authority in Nigeria has launched an online portal for tax filing and administration affairs. Taxpayers can register a new business, make payments, and access their withholding tax status through TaxPro Max, an online portal. TaxPro Max is the latest automated administration solution from the Federal Inland Revenue Service (FIRS). The portal displays…
In Nigeria, companies with related-party transactions may also have transfer pricing (TP) and country-by-country reporting (CbCR) responsibilities. These entities will file their TP and CbCR returns to the tax authority in the prescribed format. Thus far, the method of filing TP and CbCR returns has been a manual process. Taxpayers will soon say bye-bye to…
The Federal Inland Revenue Service (FIRS) is about to launch an automated VAT filing and collection system for branded shops, superstores, general supermarkets, standard restaurants and eateries in Nigeria. Effective from 1 April 2020, the electronic VAT platform (VATrac) will be the only approved way to file VAT returns and process payments of these businesses. Covered businesses…
The Rivers State Internal Revenue Service (RIRS) has automated its tax management and administration process. Tax payers in Rivers State can now manage their tax affairs using the online portal, Rivers State Tax Management Information System (RivTaMis). Overall, the e-filing services will improve tax administration as well as shorten the tax compliance process in Rivers State….
The Lagos State Internal Revenue Service (LIRS) has changed the tax filing narratives. According to the Personal Income Tax Act (PITA) Cap P8 LFN 2011 (as amended), every employer shall file an employer tax returns (Form H1) with the relevant tax authority by 31 January. In Lagos, a complete Form H1 comprise a printed copy…