Analysis of Federal Government of Nigeria’s 2018 Budget
Introduction President Muhammadu Buhari, on Wednesday 20 June 2018, signed the 2018 Appropriation Bill of the Federal Government of Nigeria (FGN) into law. The final assent came 7 months after presenting the Appropriation Bill to a joint session of the National Assembly on 7 November 2017.
The Conversation (2): Millennials Shaping the Future
Millennials (people born between 1977 and 1995) are regarded as a force to propel the future of work and thus they are in a position to transform organisations and by extension an economy. They are a generation who know no other world than that driven by technology, collaboration and connectedness. As they have come into the workplace in an era of exponential technology, they are digital natives, global savvy and leading the way. These young adults have less inhibitions like generations past, they challenge the status quo, they want in on decision making that affect them, they can be restless but are loyal when their needs are met. As a rule, they refute been described as lazy but see this as adventurous – a certain audacity; they have a different worldview and live in their own world, they have anactive lifestyle and thrive in a ‘sharing economy’, preferring access rather than acquiring…
FIRS issues Nigeria’s Country-by-Country Reporting Regulations
The Federal Inland Revenue Service (FIRS) in exercise of powers conferred on it by Section 61 of the Federal Inland Revenue Service (Establishment) Act No.13 of 2007, and all other powers enabling it, has issued the Income Tax (Country by Country Reporting) Regulations, 2018 (the CbCR Regulations). The CbCR Regulations take effect from 1 January 2018, and form part of the enhanced tax disclosure requirements set out by Action 13 of the Base Erosion and Profit Shifting (BEPS) project. The Regulations aim at providing tax authorities with improved information to enable them better assess international tax avoidance risks. Under the CbCR Regulations, where the Ultimate Parent Entity (UPE) or a Constituent Entity (CE) of a Multinational Enterprise Group (MNE Group) is tax resident in Nigeria, such Nigerian resident entity will be required to file a Country-by-Country Report (CbC Report) with FIRS for an accounting year where the Group has a…
President Buhari signs 2018 Appropriation Bill into law
President Muhammadu Buhari, on Wednesday, 20 June 2018, signed the 2018 Appropriation Bill of the Federal Government of Nigeria (FGN) into law. The final assent came 7 months after the presentation of the 2018 Budget to a joint session of the National Assembly on 7 November 2017.
Guide to Fiscal Information – Key Economies in Africa 2018
The latest publication of the Guide to Fiscal Information – Key Economies in Africa 2018 is now available to download.
FEC approves Executive Orders on VAT and Excise Duties alongside five Amendment Bills
In a show of commitment towards reducing the tax burden and improving the ease of doing business for taxpayers, the Federal Executive Council (FEC or the Council) has approved two Executive Orders and five Amendment Bills touching on key provisions in the Nigerian tax and regulatory legislation. This communication was released by the Minister of Finance, Mrs. Kemi Adeosun, after the Council meeting on Wednesday, 6 June 2018.
Meet one of Deloitte Africa Brand Ambassadors
My name is Amani Momodu. Oh okay, you already know that; but the import of this ‘re-introduction’ is what will be coming from me to you over the next several weeks and months, and may I also add year J. So I please ask that you join me on this exciting ride.