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 […]
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 […]
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 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 […]
Below is the list of members without outstanding dues. Members are enjoined to confirm their financial status with the Institute. However, we are using this medium […]