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Minister of Finance Approves Increase in Withholding Tax Rates under Double Taxation Agreements between Nigeria and other Countries with effect from 1 July 2022
May 19, 2022
Summary The Federal Inland Revenue Service (FIRS) has issued a Public Notice (“the Notice”) communicating that the Honourable Minister of […]
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National Tax Crimes Commission (Establishment) Bill Passes Second Reading at the Senate
May 11, 2022
Summary During a plenary on 23 March 2022, a Bill for an Act to Establish the National Inspector-General for Tax […]
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FIRS Issues Public Notice on Submission of Certificate of Acceptance for Claim of Capital Allowance by Companies
May 10, 2022
Summary On 9 May 2022, the Federal Inland Revenue Service (FIRS or “the Service”) issued a Public Notice to all […]
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CBN Introduces Electronic Approval System for Import and Export Transactions in Nigeria
February 1, 2022
Summary The Central Bank of Nigeria (CBN), through Circular No: TED/FEM/FPC/PUB/01/0 (“the Circular”), recently announced the introduction of an electronic […]
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The Deadline for Filing 2021 Employer’s Annual Returns Falls Due on 31 January, 2022
January 19, 2022
Section 81(2) of the Personal Income Tax Act CAP P8 LFN 2004, as amended, (PITA) requires employers of labour to […]
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FIRS Reinstitutes Local Filing Requirement on Country-by-Country Reporting
January 12, 2022
Summary The Federal Inland Revenue Service (FIRS) in a recent Public Notice announced the withdrawal of its Public Notice of […]
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