Nigeria’s EPC tax regime is currently receiving an unprecedented level of attention in view of the pending landmark controversy on turnkey impost and its potential reverberations on the tax position of similar project delivery structures which are commonplace in the country. The EPC tax system has always appeared straightforward to taxpayers, practitioners and the courts.…
Senior Partner, Ajumogoba & Okeke, A former Minister of State for Petroleum cum Chairman, Expert Advisory Panel of the Nigeria Natural Resource Charter, Mr. Odein Ajumogobia, spoke to Chineme Okafor on the interactions pertaining to the passage of the Petroleum Industry Governance Bill
Nigeria’s Tax Appeal Tribunal has decided that gas dividends are liable to withholding tax which, it is understood, was affirmed by the Federal High Court. But a review of the applicable law and the tax accounting treatments that the dispute entails appears to raise doubt about the accuracy of the decision.
In this paper published in the International Energy Law Review (2018), our Kingsley Amaefule analysed Nigeria’s National Gas Policy 2017, highlighting laudable initiatives and identifying areas for policy improvement. This analysis covered the critical aspects of the Policy such as wholesale market competition, regulation, unbundling and open access, fiscals, pricing, PSC gas, LNG, gas infrastructure,…
Nigeria’s Value Added Tax Act (the “VAT Act”) provides for the imposition of tax on the supply of goods and services. Considering the nature of goods and services, one would have expected that the scope of the VAT Act would not be moot. But the Federal Inland Revenue Service’s (the “FIRS”) browbeating of taxpayers who…
Until very recently – 2008, the Economic Community of West African States (ECOWAS) did not have any known policy on the exhaustion doctrine applicable to it …
The structure of the civil court system is stipulated in the Nigerian Constituition, 1999 (as amended). The courts of record, in order of hierarchy, are the Supreme Court (the highest appellate court), the Court of Appeal, the Federal High Court, the National Industrial Court, the state High Court and the High Court of the Federal…
The Article is a general overview of the Nigerian Capital Market. It provides a brief background of how the market has evolved over the years. It looks at initiatives that have been introduced in order to stimulate the market, develop it and restore investor confidence in the market in general. There is a brief description…
Read our Kingsley Amaefule’s article titled “Nigerian VAT: A Practitioner’s Guide” published byThomson Reuters/Tax & Accounting in the May 2017 edition of its Journal of International Taxation. Matters of interest to your organization in the article may include: a. A critique of TAT’s decisions in Gazprom v FIRS(provision of consultancy services by a non-resident to…