Background The National Assembly passed the Finance Bill 2022 (“the Finance Bill”) on 28 December 2022. The Finance Bill introduces certain amendments to existing tax laws including the Companies Income Tax Act (CITA), Customs, Excise Tariff, etc. (Consolidation) Act, Personal Income Tax Act (PITA), Petroleum Profits Tax Act (PPTA), Stamp Duties Act, the Capital Gains […]

The Federal Inland Revenue Service (FIRS) Appoints MTN, Airtel and Banks as VAT Collection Agents The FIRS has issued a Public Notice (the “Notice”) appointing MTN, Airtel and all money deposit Banks (as defined in the Central Bank of Nigeria Guidelines) to withhold and collect Value Added Tax (VAT) on the supply of goods or […]

The judiciary plays a crucial role in the administration of justice. Applicable tax laws in Nigeria clearly define the procedures for tax appeal and for challenging any decision of tax authorities. Unfortunately, taxpayers hardly explore this avenue in asserting their rights and entitlements in the wake of tax related disputes. This creates situations where tax […]