OALP Tax Practice Newsletter 1st Quarter 2023

The Nigerian tax space in 2023 began with the signing of the 2023 Appropriation Bill into law by the President; this was shortly followed by the omnibus Business Facilitation Act which was passed on 14 February 2023 which amended several business-related laws, some of which impact the current fiscal regime. The tax authorities have also increased tax-administrative efforts through the issuance of guidelines to aid taxpayers’ compliance, as well as collaborative engagements and information exchange both within and outside the country. Notably, there has also been key judicial developments providing clarification on the application of tax provisions touching several business sectors.

We have highlighted in this Newsletter, with the aim of providing useful insights, some of the legislative developments, notable decisions of the Tax Appeal Tribunal, and administrative efforts of the tax authorities in the first quarter of 2023.


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