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News & Insights

News & Insights

EXAMINING THE AMENDMENTS TO THE STAMP DUTIES ACT

The world is evolving, perhaps faster than we can imagine. Technology has placed human transaction on a fast pace and as such transactions are being carried out without parties involved meeting physically. Social interactive applications have become the new normal for business transactions as well as for the effective execution of contracts. In response to […]

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FINANCE MINISTER ISSUES ORDER EXPANDING THE GOODS AND SERVICES EXEMPT FROM VAT IN NIGERIA

Pursuant to the powers conferred by Section 38 of the Value Added Tax Act, (“VAT Act”), the Honourable Minister of Finance, Budget and National Planning (“Minister”) on February 3, 2020, issued the Value Added Tax (Modification Order), 2020 (“VAT Modification Order”). By the VAT modification order (a gazetted copy has recently become available in the […]

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AN ANALYSIS OF THE NIGERIAN DATA PROTECTION REGULATIONS 2019

The continuous shift from manual to digital processes across various sectors globally has necessitated the publication of data protection legislation by governments across the world. These legislations seek to regulate the collection, collation, storage and processing of personal data by private, public and government entities as well as safeguarding the information of individuals obtained through […]

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FIRS WAIVES INTEREST AND PENALTIES ON OUTSTANDING TAX LIABILITIES FOR TAXPAYERS

The Federal Inland Revenue Service (“FIRS”) introduced several measures to mitigate the effect of the COVID-19 Pandemic on taxpayers. (Please see our updates on the initial palliative measures on our website). On 30th April, 2020, the FIRS issued a public notice titled “Update on the Palliative Measures to Cushion the Effects of COVID-19 on Taxpayers […]

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CAC GUIDELINES ON HOLDING ANNUAL GENERAL MEETING BY PROXY AS A RESULT OF THE COVID-19 PANDEMIC

In line with the need to address the impact of the COVID-19 pandemic outbreak on the Nigerian business environment and corporate governance in Nigeria, the Corporate Affairs Commission (“CAC”) has issued guidelines for the conduct of Annual General Meeting (“AGM”) of companies by proxy. The Commission noted that in view of the pandemic, companies can […]

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FUTHER MEASURES TAKEN BY THE FEDERAL INLAND REVENUE SERIVCE TO MITIGATE THE IMPACT OF COVID-19 ON TAXPAYERS

The Federal Inland Revenue Service (FIRS) in its bid to continue to cushion the effects of the COVID-19 Pandemic on taxpayers (individuals and businesses alike), has rolled out further measures to support taxpayers in managing their tax obligations as they are impacted by the Pandemic. The FIRS came to this decision following the decision of […]

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Tax Holiday Available to Nigerian Medical and Pharmaceutical sectors

With the geometric increase in the number of persons infected with the coronavirus disease, there has been reactionary measures to ensure that economic activities remain a steady progress. Remarkably, the health sector has benefitted the most from these measures. Clearly, Nigeria’s trajectory is to ensure that at all cost the health sector does not suffer […]

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