News

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 […]

TAX WATCH: DEDUCTION OF VAT AT SOURCE AND ITS IMPLICATION

Value Added Tax (VAT) is a type of tax imposed on consumption of goods and services in Nigeria. Therefore, it can also be referred to as consumption tax. It is administered in accordance with the Value Added Tax Act, 2007 (see S 1 of Value Added Tax Act, 2007). It is chargeable at the rate […]

YEAR END ACTIVITIES FOR SMALL AND MEDIUM ENTERPRISES (SMEs)

As we approach the year end, Habile Consulting has considered it pertinent to put together some key things the SMEs are suppose to do in order to make the new year a much better one. Listed below are some of those key year end related activities that should be carried out by small and medium […]

TAX WATCH-WITH A NEW EXECUTIVE ORDER, PRESIDENT BUHARI TIGHTENS TAX, MONEY LAUNDERING RULES

The Muhammadu Buhari administration is stepping up the regulations on money laundering and tax evasion by releasing a new Executive Order number eight, tagged Voluntary Offshore Assets Regularization Scheme (VOARS). The new Executive Order (008) takes effect from Monday, October 8, 2018, the day it was signed by President Muhammadu Buhari. By this order, Nigerian […]

TAX WATCH : “FIRS GOING AFTER BILLIONAIRE TAX DEFAULTERS’ BANK ACCOUNTS” – TUNDE FOWLER

“FIRS GOING AFTER BILLIONAIRE TAX DEFAULTERS’ BANK ACCOUNTS” – TUNDE FOWLER The Federal Inland Revenue Service (FIRS), will soon go after the bank accounts of defaulting taxpayers who are raking in billions in Nigeria and are not paying taxes, FIRS Chairman, Tunde Fowler has said. In doing that, FIRS, through all banks in the country, will […]

PRESIDENT MUHAMMADU BUHARI PRESENTS NIGERIA’S 2018 APPROPRIATION BILL

President Buhari yesterday 7th November, 2017 presented the 2018 Appropriation Bill to a joint session of the National Assembly. It was described as a budget of consolidation to: Reinforce and build on recent accomplishments Sustain reflationary policies Ensure diversified, sustainable and inclusive economy Highlights of the Budget are decpited below: EXPENDITURE N’trillion Capital expenditure        […]

TAX WATCH

‘Wale Folorunsho Dear esteemed followers, please find below the list of 27  industries newly added to the pioneer list in Nigeria.   To follow us more, you can now subscribe to our blog newsletter by inputting your email address at the bottom part of our homepage at www.habileconsulting.com Steps: go to the above web address […]

TAX WATCH

                                                                                                              […]