Click here to download the PDF of this Article BACKGROUND The Finance Act (FA) 2021 in its annual fashion is the latest edition of the law to demonstrate the nation’s continued commitment to financial and economic growth. It also reflects the will of the government to bring our tax laws at par with modern best …
EDITORIAL BOARD PUBLICATIONS
THE TAX CLUB, UNILORIN ORGANISED AN UNPARALLED CAPACITY BUILDING SESSION.
The Tax Club, University of Ilorin organised a capacity building workshop on the 6th of November at the Faculty of Social Sciences. The workshop featured a wide range of sessions on learning specific professional skillset such as CV/Cover letter writing, drafting of proper mail applications, and LinkedIn optimization tips. The first-of-its-kind capacity program was an …
PETROLEUM INDUSTRY ACT: HIGHLIGHTS, PROSPECTS & CHALLENGES.
Click here to download the PDF of this Article. INTRODUCTION Against all odds, we finally have the Petroleum Industry Act (hereinafter referred to as ‘PIA’) in our midst walking the talk. But was it all worth the hype? For decades now, there have been calls to finalize the omnibus legislation that would serve some whiff …
THE MULTICHOICE v. FIRS SAGA: The Story As It Is…
Click here to download the PDF of this Article Earlier this year, the Federal Inland Revenue Service (FIRS) declared that Multichoice Nigeria Limited (MCN) and its parent company; Multichoice Africa had defaulted in their tax obligations over the years and thus asked commercial banks, who are agents to the companies to freeze and recover 1.8 …
TAX APPEAL TRIBUNAL: INSIGHTS
Click here to download the PDF of this Article. Introduction Section 59(1) of the Federal Inland Revenue (Establishment), Act 2007, establishes a body known as the Tax Appeal Tribunal (herein referred to as (“Tribunal”). This body replaced the Body of Appeal Commissioners in the fifth schedule. By implication, it means that the body consists of …
FINANCE ACT 2020: AMENDMENTS, PROSPECTS AND CHALLENGES
Click here to download the PDF of this Article for a better view. On the 31st of December 2020, President Muhammadu Buhari signed the Finance Act 2020 alongside the Appropriation Act into law. One would recall that a similarly named legislation; Finance Act 2019 (FA19) was signed into law in 2019 to align with the …
PERSONAL INCOME TAX: INSIGHTS
Click here to download the PDF of this Article What is Personal Income Tax? Personal income tax (hereinafter referred to as PIT) is a direct tax that is levied on the income of a person. ”A person” in this sense refers to ‘an individual, a sole proprietorship (non-juristic person), communities and families and on executors …
WITHHOLDING TAX: INSIGHTS
Click here to download the pdf document of this Article Income is undoubtedly a key essence of the business world. Whether as oil companies in the upstream sector, ordinary companies, or individual earners, we all have a source(s) of income, right? Accordingly, as a civic responsibility, it is expected that anyone who has a source …
CAPITAL GAINS TAX: HIGHLIGHTS OF WHAT YOU NEED TO KNOW
For a better view, click here to download the pdf format of this ARTICLE. As a law-abiding citizen, you need to be mindful of every item in the tax territory. It is an unmistakable fact that a lot of Nigerians are more conscious of certain types of taxes than others. For instance, the likes of …
Highlights of the LinkedIn Optimization Session with BTDT Hub
Click here to download the Unilorin Tax Club x BTDT Hub LinkedIn Session (Slide 1) Click here to download BTDT-Unilorin Tax Club -LinkedIn Optimization Session (Slide 2) On the 22nd of August, 2020, your tax friend, The Tax Club, University of Ilorin collaborated with the leading career hub, BTDT Hub, to organize its LinkedIn …