TAG: TAX

All the major economic news from Nigeria in 5 minutes – 23/6/2017

Summary of the top business, economic and political news in Nigeria today.   The Lagos State Government has promised...


All the major economic news from Nigeria in 5 minutes – 16/6/2017

Summary of the top business, economic and political news in Nigeria today.   Acting president, Yemi Osinbajo, says refineries...


Tax certificate collection and the 5 other online services the FIRS has introduced

The Federal Inland Revenue Service (FIRS) has upgraded its web platform and as such has introduced some 6 new...



FCT hotels fear closure over these 2 tax issues

What is a Bicycle and Cart tax in an...



Accounting For VAT in Nigeria – Cash or Accrual Basis?

The Value Added Tax Act (VATA or the Law), 2007 governs the administration of VAT in Nigeria. VAT is...


FG Approves New National Tax Policy

In a bid to enhance revenue of the country, the federal government has approved the new National tax policy....





NANTA Explains 4 New Reasons Why Nigeria’s Aviation Sector Is Sinking

NANTA describes additional reasons why aviation sector is crumbling apart from the economic...


The Steps FIRS Takes Before It Seals Your Office For Not Paying Tax

The Federal Inland Revenue has made it clear to businesses in Nigeria that it has serious about tackling tax...


[TAX] See How Much Nigeria Looses On Waivers

A startling revelation was made at the weekend with the reported loss of N577billion (about $2.9 billion)  Nigeria on...


Nigeria’s Tax Revenue Collected (2000 – 2014)

  YEAR ACTUAL (N BILLION) TARGET ( N BILLION) 2000 455 381 2001 587 501 2002 434 396 2003...


Tax – Expenses Allowable For Deduction From Profit In Nigeria

  Companies in Nigeria are statutorily required to pay 30% of their taxable profit as company income tax. However, before...


H-I-S-T-O-R-I-C-A-L: Federal High Court Declares Tax Tribunals Illegal

Thisday, reports the A Federal High Court in Abuja has restrained  Tax Appeal Tribunals established by the Federal Inland...


How Cost Of Sale Can Increase or Reduce Your Vat Remittances

    I have issued a tutorial on this blog on how to calculate vat in Nigeria. Whilst that...


A-Z Of Withholding Tax In Nigeria – Beginners Guide For Small Businesses

  What is a Withholding Tax? A withholding tax is basically an advance and  indirect source of taxation deducted...


How To Get A Tax Identification Number (TIN) – Nigeria

I have been approached by some people looking to get a TIN for the companies. Thankfully, the Joint Tax...


How do they know? Govt: “Tax to GDP is 7%, 350,000 companies are not paying tax in Nigeria”

  “If you look at Ghana, the level of formality and organisation of business is better than Nigeria. Today,...


Tax implication of IFRS adoption in Nigeria: key issues

One of my favorite Tax Consultant and one of the most respected in the country, Taiwo Oyedele recently wrote...


France plans to tax smart phone, tablets etc.

The Financial Times reports France is preparing to tax smartphones, tablets and all other internet-linked devices to help fund...


How To Compute Capital Gains Tax In Nigeria – Beginners Guide

  What is Capital Gains Tax and How do I compute it? Capital Gains Tax is a tax on...


Preferential Treatment: Holdco Banks Are Now Exempt From Excess Dividend Tax While Other Nigerian Companies Are Not

Taiwo Oyedele the  reputable and ever reliable tax professional and partner at PWC in an article on Businessday, lamented...


How To Efficiently Use Taxation To Boost Profits

Two brothers were given an equal share of their father’s wealth as he approached his death. They both followed...


How To Calculate Vat Remittances In Nigeria

Value Added Tax is an indirect form of taxation that is based on the consumption pattern of individuals and...


Taxation For Nigerian Musicians…..A Simple Guide

  In this blogpost we are going to get specific and take you through how taxation affects musicians and...


What is B.O.J (Best of Judgement Assessment) in Nigerian Tax?

A B.O.J otherwise known as a Best of Judgement Assessment is a tax assessment procedure conducted by Tax Authorities on the...


Deduct Withholding Taxes from invoices? This is who you pay to

Ok! I know I have been blogging so much about tax lately but then I believe its an area...