The Federal Inland Revenue Service (FIRS) has issued the Income Tax (Common Reporting Standard) Regulations, 2019 (CRS Regulations). This follows Nigeria’s signing of the Multilateral Convention on Mutual Administrative Assistance in Tax Matters (MAC) and the Multilateral Competent Authority Agreement (MCAA) on the Automatic Exchange of Financial Account Information, signed by Nigeria on 17 August […]

The Buhari Media Organisation (BMO) has cautioned the Peoples Democratic Party (PDP) to stop crying wolf or seeing ghosts where none exist, especially over federal government’s plan to increase the Value Added Tax (VAT) from 5 per cent to 7.5 per cent. Reacting to the PDP’s rejection of VAT, the group warned the opposition party

The Tax Appeal Tribunal, TAT, has warned petitioners that it was not susceptible to inducements and would only continue to treat appeals before it on their merits. Work on VAT implementation, not increase,Ex-ANAN president urges FG The Tribunal also said that it does not use technicalities to adjudicate matters before it, but dispense them meritoriously;