FIRS introduces TaxPro-Max for the filing of Naira denominated tax returns

The Federal Inland Revenue Service (FIRS) has announced the introduction of TaxPro-Max, a Tax Administration Solution aimed at easing tax compliance in Nigeria. The launch was communicated to the general public via a Public Notice.

Edo State Government issues Personal Income Tax (Infrastructure Development and Social Investment Tax Credit Scheme) Order 2021

Edo State Government issues Personal Income Tax (Infrastructure Development and Social Investment Tax Credit Scheme) Order 2021

The Edo State Governor has signed the Infrastructure Development and Social Investment Tax Credit Scheme Order 2021 (“the Order”). The Order introduces the Infrastructure Development and Social Investment Tax Credit Scheme, a public-private partnership that enables the Edo State Government to leverage private sector funding in the construction and refurbishment of eligible infrastructure and social projects within Edo State.

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).

LIRS extends deadline for filing of annual employers tax returns (Form H1) to 14 February 2021

The Lagos State Internal Revenue Service (LIRS) has issued a Public Notice informing taxpayers of an extension to the deadline for filing the 2020 Employers’ Tax Returns (Form H1). The deadline was extended by two (2) weeks from 31 January 2021 to 14 February 2021.

FGN releases provisional protocol for travellers ahead of international flights resumption

The Federal Government of Nigeria (FGN) has released the provisional protocol (the Protocol), in preparation for the resumption of international flights to Nigeria, which is scheduled to commence from 5 September 2020

FIRS extends filing deadline for corporate tax returns by 7 days

FIRS has issued a public notice informing the public of a 7-day extension granted to companies whose tax returns were due as at 31 July 2020.

Federal Inland Revenue Service extends AEOI-CRS reporting deadline for financial institutions

Have you filed your 2019 individual income tax returns?

The 2019 individual tax returns (Form A) extended deadline of 30 June 2020 for Lagos State Internal Revenue Service and FCT Internal Revenue Service is fast approaching.

COVID-19: FIRS extends the period to enjoy a waiver of interest and penalty from the settlement of outstanding tax liabilities

The Federal Inland Revenue Service (FIRS) recently issued a Public Notice extending the deadline for obtaining a waiver of interest and penalty on outstanding tax debts resulting from tax desk review, audit and/or investigation assessments, from 31 May 2020 to 30 June 2020.

Finance Act 2019: Minister clarifies the meaning of Significant Economic Presence

The Honourable Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, has issued the Companies Income Tax (Significant Economic Presence) Order, 2020 (the Order) to clarify the meaning of Significant Economic Presence (SEP) as contained in the Finance Act 2019 (FA19).

Federal Inland Revenue Service extends AEOI-CRS reporting deadline for financial institutions

Federal Inland Revenue Service extends AEOI-CRS reporting deadline for financial institutions

The Federal Inland Revenue Service (FIRS) on, Tuesday, 19 May 2020, released a public notice extending the deadline for reporting and filing of information return for the 2019 calendar year under the Income Tax (Common Reporting Standard) Regulations, 2019 (the CRS Regulations) from 31 May 2020 to 30 September 2020.