by Detail Solicitors | May 3, 2021 | Newsletters
WHICH FINANCIAL INSTITUTIONS’ TRANSACTIONS ARE LIABLE TO VALUE ADDED TAX IN NIGERIA? THE FIRS PERSPECTIVE AND MATTERS ARISING 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...
by Detail Solicitors | Apr 10, 2021 | Newsletters
Image courtesy:istockphoto.com BACKGROUND On the 8th of April 2021, the Securities and Exchange Commission (the “SEC”), issued a press release addressing the activities of online investment and trading platforms which facilitate direct access of the investing Nigerian...
by Detail Solicitors | Feb 4, 2021 | Newsletters
INTRODUCTION The Finance Act, 2020 (the Act) was signed into law by President Muhammadu Buhari on 31st December, 2020. The objectives of the Act include reforming Nigerian tax laws to align with global best practices, supporting small businesses in line with the...
by Detail Solicitors | Dec 31, 2020 | Newsletters
Background On November 13, 2020, President Muhammadu Buhari assented to the Banks and Other Financial Institutions Act (BOFIA) (amendment) Bill 2020. This action effectively repeals BOFIA 2004 and enacts BOFIA 2020. The legislation provides a more stringent regulatory...
by Detail Solicitors | Oct 27, 2020 | Newsletters
Background The signing into law of the Companies and Allied Matters Act 2020 (CAMA 2020) in August 2020 by President Muhammadu Buhari is generally believed by various stakeholders to be a positive development for businesses in Nigeria. The government has been keen on...
