The Nigerian tax scene witnessed notable shifts towards the end of 2023, setting the stage for anticipated trends in 2024. Here are some highlights: JB Daudu SAN v. Hon. Minister for Finance, Budget, and National Planning & Anor. A significant legal ruling settled the long-debated issue regarding the constitutionality of rules mandating the prepayment of […]

Introduction The recent announcement by the Federal Inland Revenue Service (FIRS) regarding the migration of Transfer Pricing (TP) filings from the electronic TP platform (e-TP Plat) to the TaxPro Max platform has stirred discussions among taxpayers and experts alike. This shift, outlined in the FIRS Public Notice dated 18 February 2024, comes with both potential

The Nigerian Transfer Pricing (TP) landscape has undergone significant changes since the introduction of TP Regulations in the country. Key events include the enactment of the Income Tax (Country-by-Country Reporting) Regulations, 2018 [CbCR Regulations], the Income Tax (Transfer Pricing) Regulations, 2018 [2018 TP Regulations], and the first TP court case in Nigeria (Prime Plastichem vs.

In 2022, the Federal Inland Revenue Service (FIRS) took a significant step by issuing the Non-Interest Finance (Taxation) Regulations 2022. Fast forward to 2024, these regulations have had a notable impact on the taxation landscape for institutions offering non-interest financial products and services in Nigeria. The journey began with the issuance of the revised Guidelines

Introduction The potential of generative artificial intelligence (AI) models to revolutionize business operations through swift and efficient task automation is undeniable. However, harnessing their capabilities responsibly and effectively requires a nuanced understanding and strategic implementation. In this discourse, we explore the intricacies of generative AI, its applications, risks, and the imperative need for robust internal