The latest business competitiveness ranking: How close is Nigeria to the Promised Land?

The latest business competitiveness ranking: How close is Nigeria to the Promised Land?

It is heartwarming to read the latest doing business report of the World Bank and Nigeria’s giant leap to 145th among 190 economies on the ease of doing business. Nigeria gained 24 places on the latest ranking, an improvement on the prior year’s ranking of 169, and...
Developing a holistic tax policy for smaller businesses

Developing a holistic tax policy for smaller businesses

Micro, small and medium-sized enterprises (MSMEs) are the driving force for economic activity and innovation.  They contribute to growth through job creation, investments, exports and taxation. In Nigeria, the economy is largely dominated by MSMEs, with an...
Nigeria considers new tax amnesty framework through Voluntary Asset and Income Declaration Scheme

Nigeria considers new tax amnesty framework through Voluntary Asset and Income Declaration Scheme

In a bid to grow Nigeria’s tax revenue and raise non-oil tax to GDP ratio from current level of 6% to 15% by 2020, Voluntary Asset and Income Declaration Scheme (VAIDS) is to be implemented. The National Executive Council (NEC) has granted approval-in-principle for...
Accumulated withholding tax credits and rights of taxpayer to offset tax liabilities: #TaxWiseNG Episode 24

Accumulated withholding tax credits and rights of taxpayer to offset tax liabilities: #TaxWiseNG Episode 24

In a bid to shore of government revenue, the Federal Inland Revenue Service (FIRS) is doing everything possible to expand the tax net and collect due taxes. The current fiscal landscape calls for no less response. Needless to say that the country is going through...

My Top Ten Tax Takeaways from NEC Retreat – #TaxWiseNG Episode 23

The National Economic Council (NEC) had a two-day retreat recently with far-reaching decisions. Vice President Osinbajo as Chair of NEC, 36 Governors, some Ministers and heads of relevant government agencies were present. The Retreat was declared opened by President...