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Finance Act 2020: Highlights of Latest Developments in Nigeria’s Tax Regime

Nigeria - January 27 2021 President Muhammadu Buhari signed the Finance Act 2020 into law on December 31, 2020.

Abimbola Akeredolu, Azeezah Muse-Sadiq, Ken Etim, Oluwatoba Oguntuase.

FIRS clarifies changes introduced to Nigerian VAT regime by the Finance Act 2019

Nigeria - June 25 2020 The Value Added Tax Act (“VAT Act”) was one of the seven (7) principal tax statutes amended by the Finance Act, 2019 (“Finance Act”). Being a tax…

Abimbola Akeredolu, Azeezah Muse-Sadiq, Kemi Ajayi, Ken Etim, Oluwatoba Oguntuase.

Determination of significant economic presence by a foreign entity taxable in Nigeria’s Digital Economy

Nigeria - June 19 2020 Pursuant to powers conferred under section 13(4) of the Companies Income Tax Act (“CITA”), as amended by the Finance Act (2019), the Minister of…

Abimbola Akeredolu, Azeezah Muse-Sadiq, Kemi Ajayi, Ken Etim, Oluwatoba Oguntuase.

Finance minister issues order expanding the goods and services exempt from VAT in Nigeria

Australia, Nigeria - May 21 2020 Acting pursuant to the power conferred by Section 38 of the Value Added Tax Act ("VAT Act"), the Honourable Minister of Finance, Budget and National…

Abimbola Akeredolu, Azeezah Muse-Sadiq, Kemi Ajayi, Ken Etim, Oluwatoba Oguntuase.

Is a lien placed by FIRS on a taxpayer’s bank account a valid encumbrance against garnishee order?

Nigeria - February 27 2020 The propriety of an administrative notice issued by the Federal Inland Revenue Service (“FIRS”), directing a bank to freeze an account of a customer…

Abimbola Akeredolu, Azeezah Muse-Sadiq, Kemi Ajayi, Ken Etim, Oluwatoba Oguntuase.