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 …
EDITORIAL BOARD PUBLICATIONS
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 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 so as to align with …
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 …
LINKEDIN OPTIMIZATION SESSION WITH BTDT HUB
Click here to register for the session Another masterpiece from Unilorin Tax Club? Definitely! As an organization poised to impact professionalism, our optimization session on LinkedIn couldn’t have come at a better time. These times are periods of enhancement and development which could be used to enhance our personalities and career paths. We all deserve …
DEVELOPMENTS ON STAMP DUTIES IN NIGERIA: WHAT YOU NEED TO KNOW
CLICK HERE TO DOWNLOAD FULL ARTICLE AS PDF Introduction Almost everywhere you turn to, the phrase ‘stamp duties’ keeps surfacing. Banks deduct N50 on certain bank transactions worth of N10,000 and above. Tenants (like you) have also been instructed to pay specific stamp duties, courtesy of FIRS.However, all of these do not exclude you from …
Excerpts from the Tax and AfCFTA Webinar Facilitated by Adeyemi Adegun of EY
AfCFTA was brought up by the African Union (AU) in March 2018 to foster trade business among its 55 member nations.Basically, this initiative was developed as a mirror of what is happening in other continents. It has been discovered that African countries have more trade restrictions/barriers to fellow African counterparts than to countries outside Africa. …