Ease of doing business in Nigeria – A case for eliminating multiple tax reviews, audits and investigations
The importance of ensuring a conducive environment for businesses cannot be over-emphasized, given their immense contribution to the growth of the national economy. This is more so, in the light of current economic growth and stability plans by Federal Government of Nigeria (FGN).
FIRS mandates taxpayers to obtain VAT registration certificates and display at their premises
The Federal Inland Revenue Service (FIRS), on 22 October 2018, notified the general public that it has commenced issuance of value-added tax (VAT) certificates to all new and existing taxpayers registered for VAT purposes. By the publication, FIRS also directed VAT collectors to display their VAT certificates at their business premises and implored taxpayers to report VAT collectors who fail to comply with this directive to the agency.
Vacancies in the Nigeria Power Sector Program
We are pleased to announce some vacancies under the Nigeria Power Sector Program, a power sector transformation programme led by Deloitte. The Nigeria Power Sector Program was established by a development agency to support reform within Nigeria’s power sector.
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.