Tax Alert: Taxpayers to validate official email address with FIRS
Federal Inland Revenue Service (FIRS) has issued a public notice requesting taxpayers to validate their official email addresses in FIRS’ records. The validation process is expected to commence with immediate effect.
IFRS 15 Revenue from Contracts with Customers: New Revenue Model
Companies in Nigeria have to brace up for the adoption of a new revenue recognition model. On 28 May 2014, International Accounting Standard Board (IASB) issued a new standard on revenue recognition that replaces all existing revenue recognition models. All IFRS reporting entities must fully comply with the prescribed revenue model by 1 January, 2018.
2017 Nigeria Cybersecurity Outlook
The year 2016 took cyber-attacks to an unprecedented level; there were reports of it being used to influence and sway votes in democratic elections. In Nigeria, several organisations suffered cyber-attacks, some had to pay ransom for their data to be released.
TMT Predictions 2017: Which trends may disrupt business? How could consumer habits change?
As the pace of technological change becomes exponentially faster, it is increasingly difficult to identify the major trends that could have profound effects on enterprises and consumers. To help address this challenge, we’re pleased to offer the 2017 version of Predictions from Deloitte Global, designed to provide insight into what may offer disruption and growth opportunities across the technology, media and telecommunications ecosystems.
FG Releases 2016 Fiscal Policy Measures
The Federal Government of Nigeria has approved and ordered the immediate implementation of the 2016 fiscal policy measures (FPM).
Withholding Tax (WHT) rate on building and construction contracts reversed from 2.5% to 5%
The Minister of Finance has approved the reinstatement of Withholding Tax (WHT) rate of 5% on all aspects of building, construction and related activities. The approval was given via an official gazette dated 23 November 2016.
2017 Federal Government Budget : Pinpointing the Facts and Figures
On Wednesday, 14 December 2016, President Muhammadu Buhari presented the 2017 budget of N7.3trillion to the National Assembly for consideration. The budget which is tagged, budget of recovery and growth and expected to be financed by increased borrowings, is aimed at providing a roadmap to revive the nation’s troubled economy. Click HERE for full details of the budget.
Deloitte West Africa’s 2017 Restructuring Outlook Survey
Low commodity prices, exchange rate fluctuations and decline in government spending have left many West Africans under strain. Nigeria, for instance, has experienced a “perfect storm” of economic and political events which have placed significant pressure on the economy.
Africa Construction Trends Report 2016
Africa’s changing infrastructure landscape This edition of Deloitte’s Africa Construction Trends Report cumulates and compares data from the last four years, delivering insights on both a continental and regional level. The latest edition includes a special feature on water projects in Africa.
Kenya: Grounding Africa’s Economic Growth
Apart from being the largest and most advanced economy in East Africa, Kenya is also set to be among the fastest-growing countries in Africa, expected to continue to grow in excess of 5% per annum over the next five years.