Taxing trade incentives in Nigeria – a conundrum!

The Federal Inland Revenue Service recently issued a public notice informing companies, particularly those in the FMCG sector, of their ‘obligation’ to deduct withholding tax (WHT) and VAT on compensation paid to distribution intermediaries, irrespective of the description (commission, rebate, etc.) or the form of settlement (cash, credit note, goods-in-trade).

FIRS to introduce e-filing for transfer pricing returns in 2020

The Federal Inland Revenue Service (FIRS), in its bid to enhance efficiency in tax administration, is set to automate the process of filing transfer pricing (TP) returns. This initiative is aimed at improving the ease of doing business in Nigeria.

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Is FIRS empowered to place a lien on tax defaulter’s account?

Is FIRS empowered to place a lien on tax defaulter’s account?

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CBN introduces special foreign exchange window for investors and exporters

PenCom releases guidelines on voluntary contribution under the contributory pension scheme

The National Pension Commission (PenCom) recently released guidelines (the Guidelines) to provide clarity on voluntary contributions (VCs) under the Contributory Pension Scheme (CPS). The Guidelines are coming on the heels of PenCom’s circular of 16 November 2017 to all Pension Fund Administrators (PFAs) and Pension Fund Custodians (PFCs) on “Withdrawals from voluntary contributions”.

Federal Government releases 2016 Fiscal Policy Measures

FIRS issues public notice on implementation of the revised 2018 Transfer Pricing Regulations

Recently, the Federal Inland Revenue Service (FIRS) issued the Income Tax (Transfer Pricing) Regulations, 2018 (the 2018 TP Regulations), which replaced the Income Tax (Transfer Pricing) Regulations, 2012.

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.

Finance and Accounting Outsourcing

The hyper-competitive nature of the global economy is linking the world’s major economies and changing the landscape of international business. This fast pace of change is compressing internal investment cycles into shorter payback periods thus creating a pressure on earnings expectation.

PenCom releases Draft Framework for Micro Pension Plan

The National Pension Commission (PenCom), via a public notice issued on Tuesday, 15 May 2018, disseminated a Draft Framework for Micro Pension Plan (the Framework) for stakeholders’ consideration and comments.