Introduction The role of business organizations within any country is pivotal to its economic growth and development. A robust business sector not only contributes significantly to a nation’s gross domestic product but also drives employment, innovation, and overall prosperity. However, the success of businesses hinges greatly on the regulatory environment, tax policies, and various other […]

President Bola Ahmed Tinubu unveiled the 2024 Federal budget proposals to a joint session of the National Assembly on November 29, 2023. Dubbed as the “Budget of Renewed Hope,” this budget marks the first comprehensive proposal of the current administration. It is strategically crafted to strengthen macroeconomic stability, diminish deficits, boost capital spending, and allocate

Introduction As we reflect on the past couple of years from 2022 to 2024, it’s fascinating to see how the landscape of digital asset taxation has evolved, particularly in Nigeria. The digital economy has continued to expand, encompassing various digital assets such as cryptocurrencies and Non-Fungible Tokens (NFTs). In this article, we’ll delve into the

Introduction In fostering economic growth, attracting investments, and promoting national development, maintaining a predictable tax environment with consistent policy administration is paramount. The Nigerian National Tax Policy of 2017 underscores the significance of providing tax incentives to specific sectors or activities to spur investment, while cautioning against abrupt changes to such incentives unless legally mandated.

Introduction Transfer Pricing (TP) has become a crucial aspect of tax regimes in various African countries, with nations like South Africa, Kenya, Ghana, and Nigeria adopting TP regimes over a decade ago. While there has been notable progress in the implementation and compliance levels of TP, several challenges persist, impacting both taxpayers and tax authorities.

Introduction The approval of the 2023 Fiscal Policy Measures (FPM) and Tariff Amendments garnered significant attention, raising both anticipation and concerns within various sectors. This pivotal decision, announced through a circular by the Honourable Minister of Finance, Budget, and National Planning (HMFBNP), Mrs. (Dr.) Zainab Shamsuna Ahmed, carries implications that warrant a closer examination. Key

Managing wealth for High-Net-Worth Individuals (HNIs) goes beyond the traditional concerns of investment returns and asset allocation. Tax planning and compliance are integral components of wealth management for this demographic, given the complexities and challenges they face, particularly concerning international investments and assets. In this article, we delve into the nuances of tax management for

Overview As of July 30, 2021, the Value Added Tax (Modification) Order, 2021 came into effect, ushering in notable changes to Nigeria’s tax landscape. The Order, signed by the Honorable Minister of Finance, Budget, and National Planning, expands and refines the list of goods and services exempted from Value Added Tax (VAT) under the VAT

The passage of the Nigeria Startup Bill by the National Assembly in 2022 marked a significant milestone in fostering an enabling environment for technology-driven startups in Nigeria. This article delves into the key provisions and implications of the Startup Bill, highlighting its impact on the country’s digital economy and startup ecosystem. Background and Objectives The

Overview In a notable ruling on 21 July 2022, the Tax Appeal Tribunal (TAT) tackled critical tax issues in the case involving Dangote Industries Limited (Dangote) and the Federal Inland Revenue Service (FIRS). This case not only sheds light on fair hearing principles but also delves into the application of Excess Dividend Tax and VAT