TAG: TAX

How the two major tax treaties Nigeria signed could affect Nigerians with money abroad

How the two major tax treaties Nigeria signed could affect Nigerians with money abroad

Introduction Yesterday (17 August 2017), Nigeria became a signatory to two major international multilateral...


Government policies that affects Small and Medium Scale Enterprises (SMEs)

Government policies that affects Small and Medium Scale Enterprises (SMEs)

Every business operates within an economic environment and are therefore susceptible to the changes...


Tackling tax leakages in the 21st Century – What lessons can Nigeria learn from the OECD

Tackling tax leakages in the 21st Century – What lessons can Nigeria learn from the OECD

The last two editions of our InsideTax publication have focused on tackling tax leakages...


FIRS raids SME’s across 3 states for not paying tax

FIRS raids SME’s across 3 states for not paying tax

In what appeared to be a major raid during the week, the Federal Inland...


All the major economic news from Nigeria in 5 minutes – 14/7/2017

Summary of the top business, economic and political news in Nigeria today.   The...


Don’t blame government for the flood as only 3% of Lagos residents pay tax, says Ambode

Don’t blame government for the flood as only 3% of Lagos residents pay tax, says Ambode

Ambode claps...



We summarized VAIDS for you in ten bullet points

We summarized VAIDS for you in ten bullet points

Last week, the Federal Government introduced the Voluntary Asset and Income Declaration Scheme (VAIDS)...


All the major economic news from Nigeria in 5 minutes – 29/6/2017

All the major economic news from Nigeria in 5 minutes – 29/6/2017

Summary of the top business, economic and political news in Nigeria today.   Acting...


All the major economic news from Nigeria in 5 minutes – 26/6/2017

All the major economic news from Nigeria in 5 minutes – 26/6/2017

Summary of the top business, economic and political news in Nigeria today.   The...


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

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...


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

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...


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

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...


FCT hotels fear closure over these 2 tax issues

FCT hotels fear closure over these 2 tax issues

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


World Bank Is Asking FG to Increase Taxes in Order to Service Debts

World Bank Is Asking FG to Increase Taxes in Order to Service Debts

Will Nigerians take that...


Accounting For VAT in Nigeria – Cash or Accrual Basis?

Accounting For VAT in Nigeria – Cash or Accrual Basis?

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


FG Approves New National Tax Policy

FG Approves New National Tax Policy

In a bid to enhance revenue of the country, the federal government has approved...


Salary Earner? How To Calculate Your Taxes Using The New PAYE

Salary Earner? How To Calculate Your Taxes Using The New PAYE

We include a spreadsheet template that can easily help calculate your...


Obaseki Is Dangling A 50% Tax Waiver Before Defaulters For The Next 90 Days

Obaseki Is Dangling A 50% Tax Waiver Before Defaulters For The Next 90 Days

A gallant move to improve...


Senate To Prioritise Tax Law Reform In 2017 Appropriation Bill  

Senate To Prioritise Tax Law Reform In 2017 Appropriation Bill  

It's about time this...


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

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 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...


[TAX] See How Much Nigeria Looses On Waivers

[TAX] See How Much Nigeria Looses On Waivers

A startling revelation was made at the weekend with the reported loss of N577billion...


Nigeria’s Tax Revenue Collected (2000 – 2014)

  YEAR ACTUAL (N BILLION) TARGET ( N BILLION) 2000 455 381 2001 587...


Tax – Expenses Allowable For Deduction From Profit In Nigeria

Tax – Expenses Allowable For Deduction From Profit In Nigeria

  Companies in Nigeria are statutorily required to pay 30% of their taxable profit as...


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...


How Cost Of Sale Can Increase or Reduce Your Vat Remittances

How Cost Of Sale Can Increase or Reduce Your Vat Remittances

    I have issued a tutorial on this blog on how to calculate...


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

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...


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

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

I have been approached by some people looking to get a TIN for the...


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

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...


Tax implication of IFRS adoption in Nigeria: key issues

One of my favorite Tax Consultant and one of the most respected in the...