Nigeria has been actively refining its Transfer Pricing (TP) regulations to align with global standards and combat tax evasion. The year 2023 marked significant developments in Nigeria’s TP landscape, setting the stage for further reforms and enforcement actions in 2024. Review of 2023 TP Developments in Nigeria: Outlook for Nigerian TP Space in 2024: Conclusion: […]

Introduction Tax incentives play a crucial role in government taxation policies by reducing tax obligations to stimulate specific economic activities. These incentives are especially vital for attracting investments and fostering growth, particularly in developing countries like Nigeria. However, recent discussions have raised concerns about the effectiveness and impact of these incentives on businesses and the

The Federal Inland Revenue Service (FIRS) has announced the implementation of a self-registration module on its TaxPro-Max (TPM) platform, as detailed in a recent public notice. This development is part of FIRS’s ongoing efforts to improve customer service and simplify tax compliance procedures for taxpayers across Nigeria. Key Points of the Self-Registration Module: Looking Ahead:

Introduction The Federal Inland Revenue Service (FIRS) recently announced a significant change regarding the electronic filing of Transfer Pricing (TP) returns and Country-by-Country Reporting (CbCR) notifications. In a public notice, FIRS informed taxpayers about the migration of these filings from the E-TPPLAT platform to the TaxPro-Max (TPM) platform. This move aligns with FIRS’s ongoing efforts