Introduction Prior to January 2020, when Nigeria’s first Finance Act was enacted, the country’s tax laws had remained static for many years, resulting in long-standing tax positions adopted by non-resident companies (NRCs) on their Nigerian tax matters. However, this scenario has evolved significantly as the Federal Government has employed annual Finance Acts as a fiscal […]

Introduction Economists often speak of opportunity cost—the benefit forgone when an alternative is chosen. In the context of taxes, the opportunity cost could be other expenses that might have been covered with the money paid in taxes or additional dividends enjoyed by shareholders. This raises an important question: Why should individuals or companies willingly pay