Olukolade Ehinmosan writes about how Base Erosion and Profit Shifting can prompt domestic resistance to tax compliance and enforcement, if not properly addressed.
Tax Liabilities of Educational Institutions in Nigeria – The “Public Character” Twist By Ayodeji Abdul
In a recent decision, the Court of Appeal (COA) in the case between Best Children International Schools Limited (BCIS Ltd.) vs Federal Inland Revenue Service (FIRS) affirmed the decision of the Federal High Court (FHC) that BCIS Ltd is liable to Companies Income Tax (CIT) notwithstanding its status as an educational institution.
As Nigeria continues to clamp down on tax defaulters, it has ordered some foreign oil and gas companies to pay nearly $20 billion in taxes owed to states, industries and government
The Federal Inland Revenue Service (FIRS) has generated over N23billion in unpaid taxes from the recently suspended substitution exercise on corporate bank accounts, marked by the imposition of restriction on the accounts of tax-defaulting organisations.
The average Nigerian is a wary human. There abides an inherent distrust in any venture that involves parting with any form of capital, much less, taxes. To the average Nigerian, the government breaks things – promises, their hearts and the social contract, there is no direct benefit of paying taxes and the unrelenting way that taxes are perpetually demanded and extracted from their friends who are in the tax net is absolutely frightful and unenviable.
The Federal Government said yesterday that its whistle-blower policy had raked in N13.8 billion from tax evaders.
: In case we didn’t notice, Vibranium doesn’t grow in Nigeria. So we have to gather that money!
A Review of the Regulation and Taxation of the Gaming Industry in Nigeria (A Comparative Study) 2 By Oshobugie Irumekhai And Oluwatobiloba Adesemowo
Governmental policy worldwide is what determines whether gaming activities are taxable or not. There is an absence of taxes in respect of gaming activities in jurisdictions where gaming has not been legalized. In other jurisdictions where gaming is legal, taxes are usually imposed on the income derived from gaming activities although this is not always the case as some jurisdictions like the United Kingdom have abolished taxes dealing with gaming activities.
A Review of the Regulation and Taxation of the Gaming Industry in Nigeria (A Comparative Study) By Oshobugie Irumekhai & Oluwatobiloba Adesemowo
The gaming industry in Nigeria is one with enormous potential for revenue generation. However, the prospect of realizing this potential is seriously hindered by the lopsided policies of regulation and taxation in the industry. This study attempts to critically examine the current state of the industry by reviewing the regulatory framework for gaming in Nigeria as well as highlighting the applicable taxes in that industry and juxtaposing with what obtains in advanced jurisdictions.