Category: Uncategorized

TAX WATCH – REMINDER ON ANNUAL TAX RETURNS

Dear  Taxpayers, In line with our usual practice, we will like to remind you the need to file your annual tax returns at the appropriate time, in order to avoid unnecessary penalty and interest. In line with S 55 (2) of the Company Income Tax Act, “Subject to this Act or any regulation made, the […]

TAX WATCH- INCOME TAX (TRANSFER PRICING) REGULATIONS, 2018

Dear Taxpayers, The Federal Inland Revenue Service (FIRS) has released the Income Tax (Transfer Pricing) Regulations 2018 (“TPR” or “the Regulations”). The Regulations take effect for financial years commencing after 12 March 2018 and revoke the Income Tax (Transfer Pricing) Regulations, 2012. It incorporates some of the provisions of the OECD’s TP Guidelines (OECD TPG); as well as provisions […]

TYPES OF TAX IN NIGERIA CONTD – PERSONAL INCOME TAX

PERSONAL INCOME TAX Personal income tax is a type of tax in Nigeria levied by the government on entities such as employee in an employment, sole proprietors, traders, partners in partnership business and estate, trustee and settlement. Self employed individuals are expected to file annual returns annually and pay the taxes due. A taxpayer is […]

TYPES OF TAX CONTD – COMPANY INCOME TAX

Dear valued followers,   It is the pleasure of Habile Consulting to discuss this edition with you. You will recall that we promised in our last edition of the programme that we shall be discussing types of taxes with you one after the other. Please, feel relax to enjoy the episode.   Company Income Tax […]