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May 31, 2022

2022 Annual General Meeting – Download 2021 Annual Report & Accounts

Click to download 2021 Annual Report and Accounts & Minute of Meeting of 29th AGM
May 13, 2022

24TH ANNUAL TAX CONFERENCE:    Global Disruption, Taxation And Digitalisation: Implications For Socio-Economic Development

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

Overview of CITN Statement of Taxation Standards (STS) – Statement of Taxation Standard (STS) 5: Form and Content of Tax Advice/Opinion

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

Overview of CITN Statement of Taxation Standards (STSs)4 – Previously Agreed Tax Return Filing Position

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

Overview of CITN Statement of Taxation Standards (STS) 3 – Procedural Aspects of Filing Returns

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

Overview of CITN Statement of Taxation Standards (STSs)- part 2

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

Overview of CITN Statement of Taxation Standards (STSs)

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 (Part 1)

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)

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

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

Highlights of the Lagos State Value-Added Tax Law

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

Administration of Stamp Duties in Nigeria Under the Finance Act (Part 2)

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

Administration of Stamp Duties in Nigeria Under the Finance Act

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

What You Should Know About The Rivers State Value-Added Tax Law

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

An Overview of the Petroleum Industry Act 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

Administration Of Value-Added Tax In Nigeria: Goods And Services Exempt

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

Issues in the Taxation of Non – Resident Companies

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

Allowable Deductions in the Computation of Companies Income Tax in Nigeria

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

FIRS Taxpromax Solution: Filing Requirements and Procedures

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

Taxing Rights and Global Minimum Tax Rate – An End To Profit Shifting

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

Taxation of Individuals Other Than Employees in Nigeria: Compliance Guideline

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

Minimum Tax: Application to Nigerian Companies

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 […]
March 1, 2021
ATTENTION: VERIFICATION OF PRACTICE LICENSE HOLDERS
Dear Member, VERIFICATION OF PRACTICE LICENSE HOLDERS The Institute is currently carrying out a verification exercise of all Licensed Practitioners within its system for the purpose […]
March 1, 2021
NOTICE: EXTENDED REGISTRATION FOR THE CITN TAX ACADEMY SINGLE SUBJECT CERTIFICATE COURSES.
Kindly be informed that registration is still open for single subject certificate courses of the CITN Tax Academy. Application is therefore invited from interested members of […]
March 1, 2021
GUIDELINES FOR TRANSFER TO FELLOW OF THE INSTITUTE
Guidelines for Transfer to Fellowship a. The applicant must be a member of the Institute for a minimum period of 5 years;b. The applicant must be […]
June 13, 2021
FIRS Guidelines on Validation of Unutilised WHT Credit Notes and Introduction of Tax-Pro Max
Dear Valued Member, The Institute wishes to inform members that the Guidelines on validation of unutilised WHT Credit notes issued by the Federal Inland Revenue Service […]