Insights

Federal Inland Revenue Service and Lagos State Internal Revenue Service Sign a Memorandum of Understanding on Joint Tax Audits, Investigations and Automatic Exchange of InformationDownload IntroductionOn the 8th of February 2023, the Federal Inland Revenue Service...

TAT Rules that NITDA Levy not Applicable to Network Facilities ProvidersDownload The Tax Appeal Tribunal (“TAT”) in Lagos, has held in the case of INT Towers Limited (“INT Towers” or “the Company”) v. Federal Inland Revenue Service (“FIRS”) that network facilities...

MC-Newsletter-Jan-2023Download A business plan is like a roadmap, a few lucky organisations may thrive without having it documented – though one exists within the mind of the driver - but having a documented plan certainly reduces the chance of losing focus and...

THE NIGERIA STARTUP ACT 2022: GOVERNMENT INTRODUCES NEW TAX REGIME FOR STARTUPSDownload The Nigeria Startup Act 2022 (“Startup Act” or “the Act”) was recently signed into law by the President of the Federal Republic of Nigeria, with a commencement date of 19 October...

ELECTRONIC MONEY TRANSFER LEVY REGULATIONS 2022: WHAT TAXPAYERS NEED TO KNOWDownload Introduction The Electronic Money Transfer Levy Regulations (“EMT Levy Regulations”) was recently issued by the Honourable Minister of Finance, Budget and National Planning, pursuant...

New Marginal Fields Emerge as Federal Government Issues New LicensesDownload Introduction The Nigerian Government on Tuesday 28th of June 2022, through the Nigerian Upstream Regulatory Commission (“The Commission”) awarded forty-one (41) Petroleum Prospecting Licenses...