The second quarter of the year 2023 had an interesting start. It commenced with heightened curiosity as to what to expect after the general elections which ushered in a new government. Nigerians looked forward to the events which would arise from the change in government and projections were made concerning Nigeria’s tax and fiscal policies. A key legislative development was the Finance Act 2023, the commencement of which has been postponed to 1 September 2023.
We have examined the provisions in line with tax compliance obligations for businesses and other legislative and judicial developments impacting the tax regime in Nigeria, which have been discussed in this Newsletter.
This Newsletter covers impactful developments which could serve as a viable compass for projections into the next quarter and indeed the rest of the year. We do hope you find this read insightful.