Olaniwun Ajayi LP

March 26, 2020

FIRS Intervention - COVID 19

FIRS Intervention in Response to COVID-19

In a bid to ameliorate some of the potential impacts of the pandemic on businesses in Nigeria, the Executive Chairman of the Federal Inland Revenue Service (FIRS), Mr. Muhammed Nami...

March 13, 2020

Covid-19

COVID-19 Pandemic : Business Impact and Legal Implications

On 11 March 2020, the World Health Organisation declared Covid-19 a pandemic. With the shut-down of global stock markets, restrictions on trade and travel across several countries, oil supply glut...

March 4, 2020

notable cases banner

Notable Decisions of the Nigerian Courts in 2019

The year 2019 for the Legal industry was generally “uneventful” with respect to decisions of our superior courts in civil and criminal matters. This could be due to several factors...

February 14, 2020

Tax outlook 2020

The Nigerian Tax Report: 2019 Wrap up/2020 Outlook

With the Nigerian fiscal landscape constantly in a state of flux and the frequent push and pull by the government aimed at improving the economic fortunes of the country, the...

January 8, 2020

NSE Float Rules

Review of the New NSE Free Float Rules

2 January 2020 marked the commencement of the implementation of the Nigerian Stock Exchange (NSE or the Exchange) Rules Governing Free Float Requirements for Issuers Listed on the Nigerian Stock...

December 20, 2019

FCCPC Guidelines

The FCCPC Releases Guidelines on Simplified Process for Foreign-to-Foreign Mergers with Nigerian Component

In January 2019, the president of the Federal Republic of Nigeria signed the Federal Competition and Consumer Protection Act (the FCCPA) into law, which introduced a new regime and authority...

October 24, 2019

Non-resident tax

FIRS Establishes Tax Office for Non-Resident Persons

By a public notice (“the Notice”) issued by the Federal Inland Revenue Service (“the Service” or “FIRS”), a tax office-specific and peculiar to Non-Resident persons as defined under Nigerian law...

October 21, 2019

Deep Offshore and Inland Basin Production Sharing Contract (Amendment) Bill 2019.

Recently, a bill for an Act to amend the Deep Offshore and Inland Basin Production Sharing Contract Act, (the Bill) passed the third reading at the Senate and currently awaits...

September 26, 2019

Expansion of the Statutory Deadline for Filing of Tax Objections

The Tax Appeal Tribunal (“TAT“) on 17.09.19, sitting in Lagos, in the matter of Earth Moving International v. Federal Inland Revenue Service1, delivered judgement to the effect that; (x) a...

August 23, 2019

Public Notice on Deduction at Source of Withholding Tax

The Federal Inland Revenue Service (“FIRS”), in a Public Notice, issued a guidance to the public and taxpayers in general on Withholding Tax (“WHT”) and Value Added Tax(“VAT”) deductible on...

March 26, 2020

FIRS Intervention - COVID 19

FIRS Intervention in Response to COVID-19

In a bid to ameliorate some of the potential impacts of the pandemic on businesses in Nigeria, the Executive Chairman of the Federal Inland Revenue Service (FIRS), Mr. Muhammed Nami...

March 13, 2020

Covid-19

COVID-19 Pandemic : Business Impact and Legal Implications

On 11 March 2020, the World Health Organisation declared Covid-19 a pandemic. With the shut-down of global stock markets, restrictions on trade and travel across several countries, oil supply glut...

March 4, 2020

notable cases banner

Notable Decisions of the Nigerian Courts in 2019

The year 2019 for the Legal industry was generally “uneventful” with respect to decisions of our superior courts in civil and criminal matters. This could be due to several factors...

February 14, 2020

Tax outlook 2020

The Nigerian Tax Report: 2019 Wrap up/2020 Outlook

With the Nigerian fiscal landscape constantly in a state of flux and the frequent push and pull by the government aimed at improving the economic fortunes of the country, the...

January 8, 2020

NSE Float Rules

Review of the New NSE Free Float Rules

2 January 2020 marked the commencement of the implementation of the Nigerian Stock Exchange (NSE or the Exchange) Rules Governing Free Float Requirements for Issuers Listed on the Nigerian Stock...

December 20, 2019

FCCPC Guidelines

The FCCPC Releases Guidelines on Simplified Process for Foreign-to-Foreign Mergers with Nigerian Component

In January 2019, the president of the Federal Republic of Nigeria signed the Federal Competition and Consumer Protection Act (the FCCPA) into law, which introduced a new regime and authority...

October 24, 2019

Non-resident tax

FIRS Establishes Tax Office for Non-Resident Persons

By a public notice (“the Notice”) issued by the Federal Inland Revenue Service (“the Service” or “FIRS”), a tax office-specific and peculiar to Non-Resident persons as defined under Nigerian law...

October 21, 2019

Deep Offshore and Inland Basin Production Sharing Contract (Amendment) Bill 2019.

Recently, a bill for an Act to amend the Deep Offshore and Inland Basin Production Sharing Contract Act, (the Bill) passed the third reading at the Senate and currently awaits...

September 26, 2019

Expansion of the Statutory Deadline for Filing of Tax Objections

The Tax Appeal Tribunal (“TAT“) on 17.09.19, sitting in Lagos, in the matter of Earth Moving International v. Federal Inland Revenue Service1, delivered judgement to the effect that; (x) a...

August 23, 2019

Public Notice on Deduction at Source of Withholding Tax

The Federal Inland Revenue Service (“FIRS”), in a Public Notice, issued a guidance to the public and taxpayers in general on Withholding Tax (“WHT”) and Value Added Tax(“VAT”) deductible on...