Nigeria: Accounting and Audit

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Audit

Article
Tax Audit Readiness In Nigeria: Your Complete Document Checklist And How To Handle Nrs Or Lirs Inquiries
Tax audit readiness in Nigeria is really about being so organised that Nigeria Revenue Service (NRS) or State IRS (like LIRS) never catches you unprepared, even if they show up tomorrow morning at your door step. In this article, we will walk through what that looks like in practice, from the complete document checklist to how to respond to queries without panicking.
Nigeria Tax
uA
Firmus Advisory
Article
Advance Pricing Agreements And Transfer Pricing Audits In Nigeria: A Cost-Benefit Analysis For Taxpayers
In recent years, transfer pricing (TP) has emerged as a significant concern for multinational enterprises (MNEs) operating in Nigeria. With the Nigeria Revenue Service (NRS) (formerly Federal Inland Revenue Service) intensifying efforts to generate revenue through taxation, taxpayers face heightened scrutiny, prolonged audits, and increasing risk of double taxation.
Nigeria Tax
KN
KPMG Nigeria
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Accounting Standards

Article
Retrospective Legislation, Proration Of Tax Rates, And The Fragmentation Of Accounting Periods: Revisiting The Federal High Court Decision In Shell v. FIRS
The decision of the Federal High Court ("the Court") in Shell Petroleum Development Company of Nigeria Limited v. Federal Inland Revenue Service (FIRS)1 has brought renewed attention to fundamental principles of Nigerian tax law, particularly regarding the proration of tax rates within an accounting year and the retrospective application of tax legislation.
Nigeria Tax
KN
KPMG Nigeria
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