On December 17, 2019, the Presidency signed the 2020 Appropriation Bill into law after an earlier presentation of proposed budget of N10.33tn on October 8, 2019 tagged, “Budget of Sustaining Growth and Job Creation”
Free-zone entities (FZE) are approved and registered entities within a Free Trade Zone (FTZ). A free-trade zone (FTZ) is a class of special economic zone. It is a geographic area where goods may be landed, stored, handled, manufactured
Value Added Tax (VAT) is an indirect tax which is levied on consumption of chargeable goods and services as listed in the first schedule of the VAT Act (amended 2004).
On 8th October, 2019, President Muhammadu Buhari presented the 2020 budget proposal at a joint session of the National Assembly. The budget was accompanied by the Finance Bill which the President also presented to the National Assembly
With the advent of innovation like the Web and digitized content, technology has changed the way we interact with the world. This has impacted products and how they are consumed, increased availability of information, etc
On 29 November 2018, the Federal High Court (the Court) delivered a Judgment on the imposition of turnover assessment in a case between Theodak Nigeria Limited (Theodak) v Federal Inland Revenue Service (FIRS).
In a bid to improve the overall business climate in Nigeria the present Nigerian government initiated moves to remove burdens imposed by the existing regulatory framework.
With similarity to the just concluded Voluntary
Assets Income Declaration Scheme (VAIDS), the Federal Government of Nigeria has come up with a new window of grace for defaulting tax payers who have assets abroad but...
This write up will guide investors on the various steps required in making informed decisions about doing business and investing in Nigeria. Just like every other country, there are challenges which are being addressed...
A reimbursable expense is incurred by an employee on behalf of anemployer or a company on behalf of its client which is expected to berefunded to the employee or the company as the case may be.
This write up will guide investors on the various steps required in making informed decisions about doing business and investing in Nigeria. Just like every other country, there are challenges which are being addressed gradually...
It is important that tax payer should know the exact amount expected to pay in tax, the basis of taxation and the applicable tax rate. It is the statutory duty of taxpayer to pay taxes due as and when due.
TAC October 1st retreat, coming up on Sept. 29th and Oct 1st 2018 at LCCI Building, Alausa Ikeja. Theme: Process communication and relationship management - Key to success in the Professional services space
Section 105 (1) of CIT 2004 defines a Nigerian company as “any company or
corporation (other than corporation sole) established by or under any law in
force in Nigeria or elsewhere” while a non-residence company is “any company or corporation
In the past, the chunk of the annual budget of Nigeria was financed by the revenue generated from the proceeds of the sale of crude oil. In recent times,the eye of government official opened to the fact that there is need for the economy
Transfer pricing refers to the rules and methods for pricing transactions within and between enterprises under common ownership or control. All inter-company transactions should be in accordance with the ‘arm’s length principle’.