In a bid to shore up its revenue base to finance the 2020 budget, the executive arm of the Federal Government of Nigeria has expressed its intention to increase the chargeable rate of value added [...]
Adefolake Adewusi, Florence Bola-Balogun and Tolulope Ogidi of ǼLEX review a recent decision of the Nigerian Court of Appeal on whether VAT should be payable on satellite bandwidth, and consider some legal issues which arise [...]
Arguably, the most basic principles in business are minimising cost and maximising profit. Thus, it is not unnatural that businesses would seek to reduce their expenses to the barest minimum. It [...]
In July 2014, the then Minister of Finance – Dr Ngozi Okonjo- Iweala signed the Value Added Tax (Exemption of Commissions on Stock Exchange Transactions) Order, 2014 to waive payment of Value Added Tax (“VAT”) on [...]
A pestering issue in the tax administration has been poor tax compliance, difficulty in payment of taxes, multiple taxations amongst others. To address this issue, the Joint Tax Board has introduced a new Tax Identification Number [...]
The President of the Federal Republic of Nigeria, Muhammadu Buhari, recently signed an executive order titled: “Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme Order 2019 No.: 007 of 2019” (“the Order”). The Order [...]
The federal tax authority – the Federal Inland Revenue Service (‘FIRS’), recently introduced new measures to improve the experience of taxpayers during tax audits. The strategy includes the reduction of the tax audit cycle to [...]
In our article in the link below, we highlight LIRS’ intention to generate new Tax Identification Numbers (TIN) for taxable persons resident in Lagos by leveraging on their Bank Verification Numbers (BVN). Read more [...]
INTRODUCTION The doctrine of legitimate expectation demands that a public authority respects and applies its stated position or sustained practice in exercising its powers. It is a principle of fairness in the exercise of public powers [...]
Following its earlier expression of interest to go after alleged tax defaulters with huge funds in Nigerian banks, the Federal Inland Revenue Service (FIRS) recently started issuing letters to commercial banks, appointing them as tax collection [...]
One of the many ways in which a company can encourage its employees to contribute to its success is to align the employees’ financial interest with that of the company. This alignment can be achieved by [...]
Value Added tax (VAT), sales tax, and hotel occupancy and restaurant consumption tax are forms of consumption taxes whose economic burden rests on the final consumer. The constitutional basis for imposing consumption taxes has been challenged [...]
In a bid to tackle cyber-related crimes in Nigeria, the Government passed the Cybercrime Prohibition, Prevention, etc.) Act 2015 (the “Law”) into law. Section 44 of the Law creates the Cyber Security Fund and directs the payment into it [...]
The Court of Appeal has on 10 March 2017 confirmed that the jurisdiction of the Tax Appeal Tribunal, which is an administrative appellate body over tax disputes as set out in the Federal Inland Revenue Service [...]
The Federal Government of Nigeria has approved an amendment to the Excise Duty Rates for alcoholic beverages and tobacco. The new excise duty, which took effect from Monday, 4th June 2018, will be implemented over a [...]
Tax liability attaches to the assets and incomes belonging to or accruing to persons which may, within the context, include natural and corporate persons under the laws in force in Nigeria . What this means is [...]
The Lagos State Internal Revenue Service (LIRS) issued the Hotel Occupancy and Restaurant Consumption (Fiscalisation) Regulation (“the Regulation”) in December 2017. The Regulation was made pursuant to Section 9 of the Hotel Occupancy and Restaurant Consumption [...]
No Taxation without representation' being a paper presented at The Public Lecture Organised by Aelex on Tuesday 20th July at the AGIP Hall, Muson Center Lagos. Read More
Tax Appeal Tribunal's Jurisdiction under enabling act not in conflict with jurisdiction of the Federal High Court over Tax disputes. Read More
Court of Appeal Upholds Aelex Argument that the Tax Appeal Tribunal has the jurisdiction to Determine Tax Disputes. Read More
