Detail Solicitors | Jun 29, 2020 | Newsletters
BACKGROUND Value Added Tax (“VAT”) is a consumption tax that is levied at the rate of 7.5% on the supply of all goods and services that are backed by consideration except for those goods and services specifically exempted under the VAT Act as amended. Part I and II of... Detail Solicitors | Jun 29, 2020 | Newsletters
Background The President of the Federal Republic of Nigeria, President Muhammadu Buhari, recently presented the Nigerian Tax and Fiscal Law (Amendment) Bill, 2019 (the Finance Bill) to the National Assembly for consideration and passage into law. The Finance Bill has... Detail Solicitors | Jun 28, 2020 | Newsletters
Background On the 19th of August, 2019, Nigerian Electricity Regulatory Commission (NERC) issued minor tariff reviews (“2016 – 2018 Minor Review Order”) to the Multi-Year Tariff Order 2015-2024 (MYTO 2015), to take into consideration the impact of macroeconomic... Detail Solicitors | Jun 28, 2020 | Newsletters
COVID-19 and Implications of Force Majeure Claims in Contractual Arrangements Introduction The sudden and unexpected emergence of the coronavirus (COVID-19 or Virus) pandemic has greatly disrupted the global economy. Countries around the world have imposed travel... Detail Solicitors | Jun 28, 2020 | Newsletters
BACKGROUND On 14th January, 2020, President Muhammadu Buhari signed the Finance Act, 2019 (the “Finance Act”) into law. The Finance Act made radical changes to several provisions of Nigerian tax laws, including the Value Added Tax Act, Cap V1, Laws of the Federation... Detail Solicitors | Jun 28, 2020 | Newsletters
Introduction The Federal Ministry of Works, Power and Housing (MOP) recently issued the following documents: the Power Sector Policy Statement (the Policy Statement); the Power Sector Recovery Plan Policy Statement (the PSRP Policy) and the Power Sector Policy...