Overview On Thursday, 10 September 2020, the Tax Appeal Tribunal (TAT), Lagos Division delivered a judgment in a matter between Ess-ay Holdings Limited (the Appellant) and the Federal Inland Revenue Service (FIRS or the Respondent). The matter bordered on the applicability of Value Added Tax
Stamp Duty is a tax chargeable either at fixed rates (flat amounts) or ad valorem (as a percentage of the value of a transaction), depending on the class of instrument as provided in the Stamp Duties Act (SDA). These instruments include notarial acts, agreements, conveyance
Prior to the enactment of Companies and Allied Matters Act (CAMA) 2020, the old legislation made provisions only for general partnerships. This type of partnership permits individuals to enter into partnership agreements which can be registered under part B of CAMA as a business name.
Over the past decade, there has been a strong global move towards digitalisation. Most sectors are gravitating towards improving and transforming their business operations. Business functions and processes are leveraging technology solutions to expand the use and context of digitized data. In most economies, tax
The Federal Inland Revenue Service (FIRS) earlier issued a Public Notice on 30 April 2020 announcing its decision to waive interest and penalties on outstanding tax liabilities arising from desk reviews, tax audits and investigations. In order to be eligible for the relief, the Service
Imagine a Lagos state with tamed bus stops, uncrowded motor parks, and rush hour commutes that still moved in a steady pace. A Lagos with enough space to actually walk on pedestrian lanes. One where a journey by 8am across 3rd Mainland Bridge would not
In light of the outbreak of COVID-19 in Nigeria, we wish to inform our clients and the general public of the temporary closure of all our offices nationwide, effective Tuesday 24th March, 2020 till further notice. Kindly note that our services are still available and
The Tax Appeal Tribunal (TAT) sitting in Lagos on Wednesday, 19 February 2020, delivered judgment in a matter between Prime Plastichem Nigeria Limited (PPNL) v. Federal Inland Revenue Service (FIRS). This judgement came as the first to be delivered on Transfer Pricing Regulations in Nigeria.
Nexia International (Nexia), according to the latest International Accounting Bulletin (IAB) World Survey, has retained its strong position as the ninth largest global network, as measured by fee income. Nexia Agbo Abel & Co. is a proud member of the Nexia International network. In 2019,