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FIRS ISSUES’ CLARIFICATION CIRCULARS ON FINANCE ACT

FIRS ISSUES’ CLARIFICATION CIRCULARS ON FINANCE ACT

It is no longer news that the Finance Act 2019 amended seven (7) tax legislations. In a bid to provide clarification to some ambiguous provisions of the Finance Act and the modalities for its application, the Federal Inland Revenue Service (“FIRS”) issued a series of...
Impact of COVID-19 on Financial Reporting

Impact of COVID-19 on Financial Reporting

OverviewDue to the COVID-19 outbreak globally, there have been restrictions to continuous business operation as a result of measures taken by the government to contain the spread of the virus; for example there have been closure of borders, travel restrictions and a...