Stretching the law on taxation of severance benefits via withholding tax on capital gains

Stretching the law on taxation of severance benefits via withholding tax on capital gains

by | Jan 4, 2019 | Deloitte Tax, Doing Business, Employment, Extratriate Tax, Federal Government, Nigeria, Nigeria Tax, Paying Taxes, Personal Income Tax, Tax Planning, Tax Risk Management, TaxingNigeria, TaxingNigeria, TaxWiseNG - Twitter Sessions

Lagos State Internal Revenue Service (LIRS) has issued a public notice to notify employers of the exercise of its powers to appoint them as its agent in connection with employees’ tax obligation on severance benefits. It specifically request employers to deduct and...
Taxing Nigeria’s Fledgling Economy: Between Tax Penetration and Economic Recovery

Taxing Nigeria’s Fledgling Economy: Between Tax Penetration and Economic Recovery

by | Oct 17, 2018 | Deloitte Tax, Doing Business, Federal Government, Nigeria Tax, Paying Taxes, Tax Planning, Tax Risk Management, TaxingNigeria, TaxingNigeria

Nigeria has rolled out another tax amnesty scheme. Backed by Presidential Executive Order No 8 signed on 8 October 2018, Voluntary Offshore Assets Regularization Scheme (VOARS) became the latest effort at combating money laundering and tax evasion. For the next twelve...
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

by | Mar 17, 2017 | Corporate Tax, Deloitte Tax, Extratriate Tax, Federal Government, Nigeria, Nigeria Tax, Personal Income Tax, Tax Planning, Tax Risk Management, TaxingNigeria, TaxWiseNG - Twitter Sessions, Value Added Tax

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...

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

by | May 5, 2016 | Corporate Tax, Federal Government, Nigeria, Nigeria Tax, Tax Planning, Tax Risk Management, TaxingNigeria, TaxWiseNG - Twitter Sessions, Value Added Tax

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...