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ANALYSIS OF FIRS’ CIRCULAR ON IMPLEMENTATION OF VAT PROVISIONS IN THE FINANCE ACT

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...

THE 2020 MARGINAL FIELDS BID ROUND TAKES CENTRE STAGE

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...

THE 2020 MARGINAL FIELDS BID ROUND TAKES CENTRE STAGE

Detail Solicitors | Jun 28, 2020 | Newsletters

Background  Marginal fields in the petroleum industry are fields which have remained unattended for a period of more than ten (10) years, from the date of first discovery of petroleum products or such fields as the President may, from time to time, identify as being a...

Appraisal of Nigerian Electricity Supply Industry 2019 Policy Framework

Detail Solicitors | Jun 17, 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...

Appraisal of Nigerian Electricity Supply Industry 2019 Policy Framework

Detail Solicitors | Sep 11, 2019 | Newsletters

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Implications of a Court of Appeal Decision on the ‘VATability’ of Imported Services

Detail Solicitors | Jul 8, 2019 | Newsletters

Introduction The Nigerian Value Added Tax (VAT) is a consumption tax that is imposed on the supply of all goods and services that are backed by consideration (i.e. for money or money’s worth) save for the goods and services that are specifically exempted under the...
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