Federal Government of Nigeria reviews provisional protocol for travellers arriving from Brazil, India and Turkey

Federal Government of Nigeria reviews provisional protocol for travellers arriving from Brazil, India and Turkey

The Federal Government of Nigeria, on 02 May 2021, announced that travellers arriving from Brazil, India and Turkey (BIT countries) will be denied entry into Nigeria with effect from Tuesday, 4 May 2021

CBN replaces the platform for the processing of electronic Certificate of Capital Importation

CBN replaces the platform for the processing of electronic Certificate of Capital Importation

The Central Bank of Nigeria (CBN) has announced the replacement of the platform for the processing of electronic Certificate of Capital Importation (eCCI).

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Tax revenue generation challenge in a dwindling economy – the need for constructive compromise within the transfer pricing landscape in Nigeria

Tax revenue generation challenge in a dwindling economy – the need for constructive compromise within the transfer pricing landscape in Nigeria

LIRS extends deadline for filing 2020 individual Income Tax Returns (Form A) by two weeks

LIRS extends the deadline for filing 2020 Individual Income Tax Returns (Form A) by two weeks

The Lagos State Internal Revenue Service (LIRS) has issued a public notice (the Notice) informing all taxable individuals resident in Lagos State of a two-week extension of the deadline for filing the 2020 individual income tax returns.

Federal Inland Revenue Service issues notice of compliance monitoring visits to RFIs

Federal Inland Revenue Service issues notice of compliance monitoring visits to RFIs

Following the filing of the first sets of information returns by Nigerian Reporting Financial Institutions (RFIs) in September 2020, the Federal Inland Revenue Service (FIRS) has issued notifications to selected Nigerian RFIs of its intention to carry out compliance monitoring exercise with respect to Nigerian RFIs reporting obligations under the Income Tax (Common Reporting Standard) Regulations, 2019 (the CRS Regulations).

2021 Government of Ghana Budget Statement and Economic Policy

2021 Government of Ghana Budget Statement and Economic Policy

The 2021 Budget Statement is under the theme: “Economic Revitalisation, through Completion, Consolidation and Continuity”.
Given the significant effect of COVID-19 on the Ghanaian economy, like other economies in the world, the Government has reiterated its commitment to support businesses and households through the provision of incentives, interventions and reliefs while implementing policies geared towards enhancing revenue mobilization.

Taxing digital transactions: What are the immediate and future imperatives?

Taxing digital transactions: What are the immediate and future imperatives?

21st Century businesses in traditional industries have transformed over time, moving from regular “brick and mortar” models to operating in the digital space, focusing on the provision of online services.

Nigerian government resuscitates the National Agency for Science and Engineering Infrastructure levy

Nigerian government resuscitates the National Agency for Science and Engineering Infrastructure levy

The Federal Government of Nigeria recently directed the Minister of Finance, Budget and National Planning (MoF) and Federal Inland Revenue Service (FIRS) to collect and subsequently remit statutory levy due to the National Agency for Science and Engineering Infrastructure (NASENI).

Deadline for filing the 2020 Individual Income Tax Returns (Form A)

Deadline for filing the 2020 Individual Income Tax Returns (Form A)

In accordance with Section 41 of the Personal Income Tax Act (PITA) (as amended), all taxable persons are required to file a return of claims and income from every source (earned and unearned income) for the year preceding the year of assessment, with the relevant tax authority (RTA).

Industrial Training Fund Compliance

2020 Industrial Training Fund Compliance

The Industrial Training Fund (ITF) Act governs the ITF scheme. The Scheme was set up to provide, promote and encourage the acquisition of skills in the industry and commerce.