Finance Act 2019: Clarification on Significant Economic Presence
The Honourable Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, recently issued the Companies Income Tax (Significant Economic Presence) Order, 2020 (the Order) to clarify the meaning of Significant Economic Presence (SEP) as contained in Finance Act 2019 (FA19).
LIRS further extends deadline for filing 2019 individual income tax returns (Form A)
The Lagos State Internal Revenue Service (LIRS) has issued a public notice (the Notice) informing all taxable individuals resident in Lagos State of its decision to further extend the deadline for filing individual income tax returns for 2019, from 31 May 2020 to 30 June 2020.
COVID-19: Economic, tax and other fiscal stimulus measures in Nigeria
This newsletter examines some of the critical economic, tax and other fiscal measures in Nigeria targeted at alleviating the economic impact of the COVID-19 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 gazettes Finance Act, 2019
Federal Government gazettes Finance Act, 2019
Nigeria’s President signs 2019 Finance bill into law
The Finance Bill, which was passed by the National Assembly in December 2019 and transmitted to the presidency for assent, is expected to change the tax landscape in Nigeria as it contains amendments to the provisions of seven (7) extant tax laws.
Nigeria Tax Landscape maintains Status Quo as Finance Bill 2019 is yet to be enacted
It is in the overall interest of the country that the euphoria that greeted the release of the Finance Bill is sustained with an early passage. This is a much-needed action in view of the drive towards bridging the country’s revenue gap.
Nigeria’s Finance Bill 2019: key changes and implications
This newsletter gives an overview of the Bill, analyses the key provisions vis-à-vis the changes to the primary taxing legislation and highlights the potential tax implications for stakeholders.