Migration of physical CCIs due latest 28 November, 2016

Open banking, open risk. Managing financial crime in a disrupted world

New technologies, new entrants to the industry, new regulations and changing consumer preferences are combining to disrupt and fragment what was until recently an industry dominated by the major banks.

RIRS launches electronic platform for taxpayers to manage their tax affairs

In keeping with the recent drive by revenue authorities to automate their processes, the Rivers State Internal Revenue Service (RIRS) has deployed the Rivers State Tax Management Information System (RIVTAMIS).

Deadline for filing of annual employers tax returns (Form H1)

Under the Personal Income Tax Act, every employer is statutorily required to submit employers’ tax returns (Form H1) with the relevant tax authority of all emoluments paid to its employees in the preceding year.

Migration of physical CCIs due latest 28 November, 2016

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.

Industry 4.0: Audit professionals of the future

Today, audit professionals go to a client with their laptop, equipped with audit software to deliver seamless quality audit service to clients.

Federal Government launches new international passport with 10 years validity

The Federal Government of Nigeria on Tuesday, 15 January 2019, unveiled the new Nigeria international passport with a 10-year validity.

LIRS launches e-filing portal for submission of employers’ tax returns (Form H1)

Statutorily, under the Personal Income Tax Act (PITA) Cap P8 LFN 2004 (as amended), every employer is under obligation to file employers’ tax returns (Form H1) with the relevant tax authority of all emoluments paid to its employees in the preceding year. The timeline is not later than 31 January of every year.

Review of Combined Expatriate Residence Permit and Aliens Card fees

The Federal Ministry of Interior (FMI) recently confirmed approval by the Honourable Minister of Interior (the Minister) for the upward review of the Combined Expatriate Residence Permit and Aliens Card (CERPAC) fees from $1,000 to $2,000 per annum. The Minister also added that there would not be a further review of the CERPAC fees until three years after the implementation of the new fee. Further, it is expected that the review will not affect missionaries/student CERPAC fees. The review had already taken effect in December 2018 and branches of the only commercial bank designated to sell the forms are adhering strictly to the new price.

LIRS issues public notice appointing payers of capital sum as agents for collection of capital gains tax

Lagos State Internal Revenue Service (LIRS) recently appointed all payers of capital sums as Capital Gains Tax (CGT) collection agents, through a public notice, effective from 1 January 2019. LIRS specifically mentioned that employers are obliged to withhold CGT from amounts payable/paid to exited employees, as compensation for loss of employment, and remit same.

Career opportunities for Public Health Professionals

As part of the mandate received from The Global Fund (TGF) – a partnership organization designed to accelerate the end of AIDS, tuberculosis and malaria as epidemics, The National Tuberculosis and Leprosy Control Programme (NTBLCP) seeks to recruit suitable, qualified and experienced public health professionals for The National Tuberculosis and Leprosy Control Programme (NTBLCP) which was established by the Government of Nigeria to coordinate tuberculosis and leprosy control efforts in Nigeria.

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Federal Government of Nigeria’s 2019 Budget of Continuity

President Muhammadu Buhari provided a sneak peek into Nigeria’s fiscal direction for 2019 on Wednesday, 19 December 2018, as he presented the 2019 Budget of the Federal Government of Nigeria (FGN) to the joint session of the National Assembly. The FGN’s 2019 Budget is intended to continue Nigeria’s quest for inclusive growth, economic diversification and sustainable development.