Welcome to CITN Blog
May 31, 2022
Click to download 2021 Annual Report and Accounts & Minute of Meeting of 29th AGM
May 13, 2022
1.0 PREAMBLE It is no longer news that the COVID-19 pandemic has altered business transactions across the globe, causing business communities to adopt technology to be […]
November 21, 2021
Introduction The CITN Statement of Taxation Standard (STS) Five on Form and Content of Tax Advice/Opinion sets out guidance for members on certain aspects of providing […]
November 15, 2021
Statement of Taxation Standard (STS) 4: Previously Agreed Tax Return Filing Position Introduction The CITN Statement of Taxation Standard (STS) Four on Previously Agreed Tax Return […]
November 6, 2021
Introduction Taxation is a unique profession dealing more in law, tax policies and the manner of treatment of tax elements regulated by legal pronouncements. This is […]
October 28, 2021
Introduction The CITN Statement of Taxation Standards (STS) Two on Tax Returns Position was issued and gazetted in the Federal Republic of Nigeria Official Gazette Vol. […]
October 14, 2021
Introduction Tax practice as a term encompasses the policies, procedures and practices that are routinely and consistently employed by members of the taxation profession in the […]
October 9, 2021
EVOLUTION OF THE NIGERIA DIGITAL CURRENCY: THE e-NAIRA What is digital currency? Digital currency is any form of money or payment that exists solely in electronic […]
October 9, 2021
ADMINISTRATION OF STAMP DUTIES IN NIGERIA (CONCLUDING PART) 1.0. ADJUDICATION OF STAMP DUTY PROCESS OF ADJUDICATION It is the right of the taxpayer to seek the […]
September 26, 2021
ADMINISTRATION OF STAMP DUTIES IN NIGERIA UNDER THE FINANCE ACT -PART 3 In the first and second parts of this article that were featured in the […]
September 16, 2021
The Lagos State House of Assembly on the 9th of September, 2021 passed its Value Added Tax (VAT) Law. The Law is to impose and charge […]
September 10, 2021
In the first part of this article that was featured in the previous week (02/09/2021), we discussed the administration of Stamp duties, dutiable instruments and how […]
September 10, 2021
Introduction Stamp duty is levied on written or electronic transaction documents. The tax is governed by the Stamp Duties Act (SDA) of 1939 and charged as […]
August 27, 2021
The Governor of Rivers State, Barri Nyesom Wike on the 19th of August 2021 signed into law the Rivers State Value Added Tax Law which provides […]
August 25, 2021
INTRODUCTION The Petroleum Industry Act was signed into law by President Muhammadu Buhari on Monday, August 16, 2021 after series of amendments and dialogues which spanned […]
August 5, 2021
Introduction VAT is a consumption tax that has been embraced and adopted by many nations across the globe. Because it is a consumption tax, it is […]
July 29, 2021
INTRODUCTION Non – Resident Companies (NRCs) refer to companies that are not incorporated in Nigeria. Historically, non-resident companies doing business in Nigeria prepare and pay their […]
July 29, 2021
1.0. Introduction:The Companies Income Tax Act (CITA) 2004 (as amended) provides that companies income tax shall be imposed on the profits of a company derived from […]
July 15, 2021
Introduction Following the provisions of the Finance Act 2020 which empowers the Federal Inland Revenue Service (FIRS) to automate tax return filing and payment processes, the […]
July 15, 2021
INTRODUCTION Recently, the top economic officials from the world’s advanced economies reached a groundbreaking agreement to overhaul international tax laws. This has led to the unveiling […]
July 15, 2021
At this time of the year, every individual that earns an income is expected to have filed personal income tax returns with the relevant authorities. Section […]
July 15, 2021
Overview Income tax is payable on taxable income or profits generated by companies from their activities. There are situations where a company’s tax computation results in […]