Nigeria signs multilateral agreements to tackle international tax avoidance and evasion

The Chairman of Federal Inland Revenue Service (FIRS); Mr. Babatunde Fowler, on Thursday 17 August 2017, signed the following agreements: the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI) the Common Reporting Standard Multilateral Competent Authority Agreement‎ (CRSMCAA)

CBN introduces special foreign exchange window for investors and exporters

VAIDS: SEC moves to enforce compliance by CMO

The Securities and Exchange Commission (SEC or the Commission) on 25 July 2017, issued a general circular mandating Capital Market Operators (CMO) and Public Limited Companies (PLC) to ensure that they regularize their tax status under the Voluntary Assets and Income Declaration Scheme (VAIDS) recently signed by the Acting President – Professor Yemi Osinbajo.

FEC Approves Revised National Tax Policy

Acting President Osibanjo signs executive order backing implementation of VAIDS

The Acting President, Prof. Yemi Osinbajo on 29 June 2017 signed an Executive Order backing the implementation of the Voluntary Asset and Income Declaration Scheme (VAIDS), which will take effect from 1 July 2017 and last till 31 March 2018. The scheme will be jointly executed by the Federal and State Governments and will cover both corporate and individual taxpayers.