Introduction One of the most contentious areas during a Transfer Pricing (TP) audit is the functional characterization of related entities, which is based on the functions performed, assets utilized, and risks assumed (commonly referred to as an FAR analysis) in relation to a controlled transaction. This characterization informs the expected returns and, subsequently, the taxes […]

Introduction Starting a business in Nigeria requires obtaining several legal documents and licenses, which are essential for legally establishing and operating a business within the country. These licenses and permits are provided by relevant government bodies, with the Corporate Affairs Commission (CAC) serving as the primary regulatory authority for business incorporation and registration in Nigeria.