Nigeria releases new Executive Order to combat money laundering and tax evasion
The Federal Government of Nigeria, on 8 October 2018, signed a new Executive Order 008 (Order) backing the implementation of the Voluntary Offshore Assets Regularisation Scheme (VOARS or the Scheme), aimed at combating money laundering and tax evasion. The Scheme took effect from 8 October 2018 and will cover a period of twelve months.
FIRS issues public notice on implementation of the revised 2018 Transfer Pricing Regulations
Recently, the Federal Inland Revenue Service (FIRS) issued the Income Tax (Transfer Pricing) Regulations, 2018 (the 2018 TP Regulations), which replaced the Income Tax (Transfer Pricing) Regulations, 2012.