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

Introduction In the dynamic landscape of entrepreneurship, the essence of business survival transcends mere concepts of a good idea or efficient operations. It extends to encompassing resilience – the capacity to navigate disruptions, setbacks, and unforeseen challenges with agility and strategic acumen. Amidst the multifaceted facets of resilience, marketing emerges as a pivotal element often

The Electronic Money Transfer Levy Regulations, 2022, signed by the former Minister of Finance, Budget, and National Planning, Mrs. Zainab Shamsuna Ahmed, mark a significant step in regulating electronic money transfers in Nigeria. These regulations, authorized under Section 89A(3) of the Stamp Duties Act Cap. S8 Laws of the Federation of Nigeria, 2004, as amended

In a significant move to enhance the operational environment for micro, small, and medium-sized enterprises (MSMEs) in Nigeria, President Muhammadu Buhari, GCFR, officially signed the Business Facilitation (Miscellaneous Provisions) Act 2023 into law on 14 February 2023. This Act, commonly referred to as the Omnibus Act, was crafted under the purview of the Presidential Enabling

As of March 28, 2024, the Central Bank of Nigeria (CBN) unveiled a circular outlining the revised minimum capital requirements for commercial, merchant, and non-interest banks across the nation. These adjustments, rooted in Section 9 of the Banking and Other Financial Institutions Act (BOFIA) of 2020, aim to fortify the financial sector and align it

In the world of business, growth is not just a goal; it is a constant pursuit. However, the path to sustainable growth is not always clear-cut. It requires careful planning, strategic decision-making, and a deep understanding of your business’s strengths and weaknesses. One of the fundamental challenges in managing business growth is balancing the various

Managing business growth is comparable to controlling a formidable force; mishandling it leads to chaos, while nurturing it effectively results in a pathway to success. Striking the right balance in managing growth is crucial for long-term sustainability and competitiveness in today’s dynamic market landscape. Here are six strategies to guide your journey towards sustainable business