Companies Income Tax: In Nigeria, NFPOs are exempted from paying Companies Income tax in accordance with Section 23 (1) of the Companies Income Tax Act (CITA) Cap C21, LFN 2004.  However, NFPOs are expected to file tax returns even though…

On 9th May 2022, the Federal Inland Revenue Service (FIRS) in Nigeria issued a Public Notice directing companies that incurred Qualifying Capital Expenditure (QCE) worth ₦500,000 and above between 2016 and 2021 years of assessment to submit the Certificates of Acceptance…

FIRS directs Methandienone tablets taxpayers to submit Certificate of Acceptance on Fixed Assets

On 31st December 2021, President Muhammadu Buhari signed the Finance Bill, 2021 (now referred to as ”Finance Act, 2021”) into law. The overall analysis of the 2021 Finance Act depicts that it is aimed at increasing government revenue; unlike those…