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News & Insights

News & Insights

TAXATION OF PROPERTIES IN LAGOS STATE: AN INSIGHT INTO THE LAGOS STATE LAND USE CHARGE

The Land Use Charge The Land Use Charge (LUC) is a consolidation of all property and land based rates previously payable in Lagos State, such as ground rent, tenement rate and neighborhood improvement  levy.[1]It is payable on all real property situate in the State,[2]such as buildings, any improvement on land, a parcel of land (whether […]

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UNDERSTANDING THE BASICS OF TAXATION OF EXPATRIATES IN NIGERIA

Introduction  Globalization and trans-border migration has resulted in the movement of people from one country to another for different reasons. Individuals move across national borders for tourism, permanent migration, work etc. Such people who take up employment outside of their home countries are normally referred to as expatriates. Nigeria is not left out of its […]

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The Need for Regulations Governing the Taxation of Cryptocurrency in Nigeria

Introduction Over the years, mediums of exchange have evolved from barter to the use of gold and other precious metals, fiat currency and high-tech e-money characterized by the use of credit cards and e-wallets. Then in 2009 the concept of money and payments changed with the emergence of blockchain technology and the birth of cryptocurrencies. […]

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DO MSMEs IN NIGERIA REQUIRE SPECIAL TAX TREATMENT?

Introduction  Business entities in Nigeria may be set up using any one of three legal structures. These structures are Sole proprietorships, Partnerships or registered companies (which may be limited by shares, limited by guarantee or unlimited). The decision to adopt any of the above business structures should stem from a careful consideration of such factors […]

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