Tax & Business Matters - Nigeria

FIRS to carry out nationwide VAT and WHT compliance review

In order to improve compliance with tax regulations generally and transaction taxes in particular, the Federal Inland Revenue Service is set to conduct a verification exercise nationwide covering VAT and WHT from 12 March to 11 April 2014.

Attached below is our tax alert for your information and necessary actions.

Download VAT & WHT Verification Exercise_14 Mar 2014  

Transfer Pricing Policy

It is no longer news that Nigeria now has a Transfer Pricing Regulation. What is news is that the FIRS are getting ready to monitor and enforce compliance. Many companies have already received letters from the FIRS asking them to submit their TP policy documents.

In case you are wondering what that means or wish to know how to go about preparing one, then read my article published in today's BusinessDay pg 11.

Download Transfer pricing policy article

 

March 2014 Tax Calendar

Are you ready to comply with your taxes? Here is the calendar for this month to help you do so.

Download Tax Calendar_March 2014