IFRS 15: A critical disruption for businesses in 2018

Year 2018 is bound to witness a lot of critical disruptions in the financial reporting parlance. This is due to the mandatory adoption of IFRS 15 whose effective date is 1st January 2018 by companies. The disruptions to be caused by this standard is pervasive as it will cut across almost all aspects of the […]

NEWSLETTERS ON RECENT LAGOS INTERNAL REVENUE SERVICE PUBLICATIONS

This Newsletter focuses on the publication recently issued by the Lagos State Internal Revenue Service (“LIRS”) relating to issues surrounding PAYE and WHT implications in employee outsourcing arrangements. EMPLOYEE OUTSOURCING ARRANGEMENT – DOWNLOAD This newsletter below addresses three recent public notices issued by Lagos Internal Revenue Service (LIRS) in respect of the taxation of: Employee […]

Tax Authorities Threaten Stiff Penalties on Abuse Of Additional Voluntary Contributions To Pension As A Tax Relief

The Joint Tax Board (“JTB”) and the Lagos State Internal Revenue Service (“LIRS”) this week published separate Public Notices on the abuse of the Additional Voluntary Contribution (AVC) to pension accounts as a tax relief by employers and employees. The publications noted that several employees have, with the collusion of pension fund administrators (PFAs), continually […]

FINANCIAL REPORTING COUNCIL RULE 4, A CONFLICT WITH IFRS?

The FRCN is a Federal Government agency established by the Financial Reporting Council of Nigeria Act, No. 6, 2011.  It is a Federal Government parastatal under the supervision of the Federal Ministry of Industry, Trade and Investment. The FRC is responsible for, among other things, developing and publishing accounting and financial reporting standards to be […]

Global Tax Weekly by CCH

An article from our most recent edition of Morison KSi Africa Newsletter has been featured by a leading international publisher; CCH, in their publication Global Tax Weekly. The 17 August 2017 edition features the article Financial Reporting Council Rule 4: A conflict with IFRS? written by Adebamiji Adelaja from Pedabo, Nigeria Global Tax Weekly – […]