Finance Act 2019: FIRS releases information circulars to clarify certain provisions
The Federal Inland Revenue Service (FIRS) has released various information circulars on its opinion and clarification of certain provisions in the Finance Act 2019.
COVID-19: FIRS waives interest and penalty arising from outstanding tax audit liabilities
The Federal Inland Revenue Service (FIRS) recently issued a Public Notice communicating the waiver of interest and penalty on outstanding tax debts arising from tax desk review, audit and/or investigation exercise.
Webinar invitation – COVID-19: Economic impact scenarios and business tax imperatives
Join our experts as they discuss the economic impact of the COVID-19 pandemic and the critical economic, tax and other fiscal measures targeted at alleviating the economic impact of the pandemic.
Nigeria rolls out additional fiscal measures to stimulate the economy in response to the impact of COVID-19 and decline in oil price
Nigeria’s Minister of Finance, Budget and National Planning (‘the Minster’) on 6 April 2020, issued a press statement, to communicate a Fiscal Stimulus Package to address the economic challenges created by COVID-19 (The Pandemic) and the slump in crude oil prices.
COVID-19: Nigeria rolls out various regulatory and fiscal measures to provide relief
This newsletter examines the various measures put in place in Nigeria to contain the spread of COVID-19 and also alleviate the impact of the Pandemic.
COVID-19: House of representatives pass Emergency Economic Stimulus Bill 2020
In a bid to alleviate the adverse financial impact of the COVID-19 Pandemic on individuals and organizations in Nigeria, the House of Representatives recently passed the Emergency Economic Stimulus Bill 2020.
Federal Government of Nigeria announces further measures to curb the spread of Covid-19
In furtherance of the efforts to curtail the wanton spread of the novel Coronavirus (COVID- 19 or the virus), the Federal Government of Nigeria (FGN) recently announced the following additional measures meant to last for four weeks, subject to further review
FIRS launches business continuity plan in response to Coronavirus pandemic
With the global outbreak of the novel Coronavirus (COVID- 19 or the Pandemic), Federal Inland Revenue Service (FIRS) has released a public notice (the Notice), informing the general public of the launch of its “business continuity plan”.
Implementing IFRS 16 (Leases) – What are the tax implications?
The International Accounting Standards Board (IASB) issued International Financial Reporting Standards (IFRS) 16 on leases, which became operational in January 2019. IFRS 16 was issued to replace International Accounting Standard (IAS) 17 on leases.