Events

1.0     INTRODUCTION Nigeria, as one of Africa’s largest economies, underwent significant economic changes during the first and second quarters of 2023. These changes were influenced by […]

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 […]

Since the industrial revolution of 1798 in Great Britain, the mode and methods of managing businesses and economic activities among countries of the world have experienced […]

Since the industrial revolution of 1798 in Great Britain, the mode and methods of managing businesses and economic activities among countries of the world have experienced […]

1.0     PREAMBLE Recently, the Federal Inland Revenue Service (FIRS) facilitated the signing of a Memorandum of Understanding (MoU) among the major players in the profession of […]

 1.0     PREAMBLE The Governor’s Forum is a body that comprises of all the current Governors in Nigeria. The forum was established to enable Governors to collectively […]

1.0. INTRODUCTION Money made illegally or otherwise legally but not recorded for tax purposes is referred to as “black money.” Proceeds from illicit economic activities are typically obtained […]

1.0. INTRODUCTION Poverty is a multidimensional problem that goes beyond economics to include social and institutional issues. A concise and universally accepted definition of poverty is […]

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 […]

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 […]

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 […]

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. […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]