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Nigeria issues the Companies Income Tax (Significant Economic Presence) Order, 2020
The Finance Act 2019 heralded the introduction of a new framework for the taxation of e-commerce in Nigeria and this was to be based on the Significant Economic Presence (SEP) principle. The...
The Value Added Tax (VAT) Modification Order 2020
The Honourable Minister of Finance, Budget and National Planning, in the exercise of powers granted in section 38 of the Value Added Tax Act Cap V1 LFN 2004 (VATA or the Act) on February...
COVID-19 and Competition Law – Nigerian Intervention, and Lessons from Around the World
Since Coronavirus was officially declared a pandemic on 11th March 2020 by the World Health Organization, it has ignited difficult times for individuals, businesses and the global economy in general. There is virtually no...
FIRS Circular on the Tax Implications of Operation of Real Estate Investment Companies in...
Following the passage of the Finance Act 2019, the Federal Inland Revenue Service (FIRS or the Service) has released several circular providing clarification on certain provisions of extant tax laws that were...
COVID-19 & The Nigerian Music Industry
COVID-19 is no doubt changing global lifestyle including music consumption. Tours, live performances, shows and album releases have had to be postponed or cancelled and this has had a huge impact on...
Competition & Consumer Protection in a Covid-19 Marketplace
As part of our continued support to our clients faced with unprecedented legal and business issues occasioned by the Covid-19 pandemic, Olaniwun Ajayi LP has launched the Voxtero podcast series. In this...
FIRS Circular on the Implementation of The Value Added Tax Provisions in the Finance...
With the introduction of sweeping changes to the provisions of existing tax laws in Nigeria by the Finance Act 2019 (the Act), it has become necessary for the Federal Inland Revenue Service (the FIRS or...
COVID-19: Right to Privacy of Infected Persons
As a result of the spread of the COVID-19 virus, governments around the world are taking measures, some of them extreme, to ensure the safety of their citizens. Individual rights and liberties...
CBN Extends Deadline for Recapitalisation of Microfinance Banks
In the face of the unprecedented economic crisis occasioned by the Covid-19 pandemic, the apex monetary authority and regulator in Nigeria, the Central Bank of Nigeria (CBN), as part of its efforts to cushion the economic impact...
Navigating Transfer Pricing Concerns in the Covid Season
In its latest Interim Economic Outlook of March 2020, the Organisation for Economic Co-operation and Development (OECD) warns that the COVID-19 Pandemic ("the Pandemic" or "the Virus") is the global economy's gravest...