Tax & Business Matters - Nigeria

FATCA implementation and lessons for Nigeria

The Foreign Account Tax Compliance Act (FATCA) is a new law introduced by the United States government to ensure the disclosure of assets and income of US persons held with foreign financial institutions. Intuitively, FATCA presents an opportunity for tax authorities in Nigeria to collect useful information from taxable persons in Nigeria to improve tax compliance.

Read my article on the subject published by the Guardian Newspaper yesterday.

Guardian article_online version 

Download FATCA - Curbing Tax Evasion

FIRS has requested parties to Production Sharing Contracts in the petroleum sector to start filing CIT returns

The Federal Inland Revenue Service (FIRS) held a workshop on 6 June 2014 to discuss specific tax issues affecting parties to a Production Sharing Contract (PSC) in the upstream petroleum industry. Specifically, the FIRS requested that parties to a PSC start filing Companies Income Tax (CIT) returns.

See our tax alert below for details.

Download PwC Tax Alert - PSC and CIT returns

June 2014 Tax Calendar

Welcome to June.

Our tax calendar for the month is now ready for download. I wish you a tax compliant month of June.

Download Tax Calendar_June 2014