Lagos State Government announces changes to the Land Use Charge Law

The Lagos State Government (LASG) has announced revisions to provisions of the Land Use Charge Law 2018 (LUC Law); principally covering a reduction in land use charge (LUC) payable on various categories of property in Lagos State.

Federal Government approves changes to excise duty regime

The Federal Government of Nigeria (“FGN”), has approved changes to the rates and bases for levying excise duties on alcoholic beverages and tobacco. The new regime, communicated via the circular referenced 17642/II/172 and dated 6 March 2018 (“the Circular”), becomes effective from 4 June 2018 and the increase in taxes will be phased on a graduated scale from June 2018 to 2020.

IFRS 15: Are you ready for the “Big Change ?

The recognition criteria of revenue in accounting standards is about to change—and your entity might be significantly affected, maybe even more than you expect!