Introduction The digitization of business has brought about unprecedented opportunities and challenges, and one significant challenge is the emergence of digital tax evasion. As businesses increasingly operate in the digital realm, tax authorities like the Federal Inland Revenue Service (FIRS) in Nigeria are faced with the task of adapting their strategies to counter evolving tactics […]
Introduction Transfer pricing, a common practice in multinational corporations (MNCs), involves setting the prices for transactions between related entities. While legitimate and essential for business operations, transfer pricing can be manipulated for tax evasion purposes. Recognizing this, the Federal Inland Revenue Service (FIRS) in Nigeria has implemented robust measures to curb transfer pricing abuse and
Unveiling Transfer Pricing Abuse: FIRS’ Vigilant Response to Combat Tax Evasion Read More »
Introduction In Nigeria, companies are subject to taxation under the Companies Income Tax Act (CITA), irrespective of whether they are resident or non-resident. While Nigerian companies are taxed on their worldwide income, non-resident companies are taxed only on profits derived from activities conducted within Nigeria. This framework ensures that even foreign entities with a significant
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