The Federal Inland Revenue Service (FIRS) has released a list of exchange partners under the Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information for reportable Financial Institutions. The number of countries as of January 2022 is 108,…
FIRS recently issued self-certification forms for foreign residents with bank accounts in Nigeria. The new documentation is further to the Income Tax Regulation 2019. Nigeria has an agreement with 109 jurisdictions to share bank account information of non-resident persons in…
Introduction Physical presence in traditional service delivery is easy to monitor. Under this system, a tax authority can determine whether a non-resident person is taxable in a country based on factors such as fixed base, turnkey project, and dependent agent.…
Nigeria’s Federal Inland Revenue Service (FIRS) has issued a regulation on the automatic exchange of information with 105 countries on financial accounts. The co-operation of tax authorities in different countries will help to reduce tax evasion and enhance the reliability of tax…
Businesses engaged in cross-border transactions must address the impact of their operations in another country. One of the vital issues is international tax, including double taxation and transfer pricing adjustment. This could lead to a tax dispute between a taxpayer…
