February 6, 2019

BDC Operators Seek Exemption From VAT, COT

LAGOS – To ensure the industry overcome its current challenges, the Association of Bureaux de Change Operators of Nigeria (ABCON),yesterday emphasized the need for the Central Bank of Nigeria(CBN) to exempt bureau de change operators from payment of Value Added Tax (VAT). The association’s president, Alhaji Aminu Gwadabe, stated this in his speech at the […]

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COURT OF APPEAL RULES ON THE TAXABILITY OF AN EDUCATIONAL INSTITUTION

Summary On 11 December 2018, the Court of Appeal (COA or the Court), in the case between Best Children International Schools Limited (BCIS Limited or the Company) vs Federal Inland Revenue Service (FIRS), held that the Company is liable to Companies Income Tax (CIT), regardless of its claim to be an educational institution.  The Court

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