Nigeria’s Changing Tax Landscape: The Tax Reform Bills Have Become Law

On 26 June 2025, the President of Nigeria signed into law four sweeping tax reform bills, now collectively referred to as the Tax Reform Acts, with commencement set for 1 January 2026. This marks a pivotal moment in Nigeria’s fiscal history, introducing far-reaching legal and institutional changes to tax law, administration, and inter-governmental coordination. The […]

Tax Update: FIRS’ Country-by-Country Reporting Regulations Declared Void by the Federal High Court

The Federal High Court has affirmed the Tax Appeal Tribunal’s landmark decision in FIRS v. Check Point Software Technologies B.V. Nigeria Ltd, declaring the Country-by-Country Reporting (CbCR) Regulations 2018 null and void. In a well-reasoned judgment, the Court held that the FIRS lacked the statutory authority to issue the regulations in the absence of a […]

An Overview of Nigeria’s Proposed Capital Gains Tax Regime for Indirect Transfers of Shares and Other Interests

The Nigeria Tax Bill, 2024 introduces a major shift to the capital gains tax (“CGT”) regime by expanding its scope to cover indirect transfers of shares and other interests deriving value from Nigerian assets. This has significant implications for private equity investors, multinational groups, and cross-border transactions, particularly where offshore holding structures are used. Key […]

Senate Passes Proposed Tax Reform Bills

The Nigerian Senate has passed President Tinubu’s 4 (four) Tax Reform Bills (the “Bills”), following the House of Representatives’ earlier passage of the Bills. As we have explained in this publication, the version passed by the Nigerian Senate differs in some respects from what the Federal House of Representatives passed. Some Key differences include a […]

Legal Guide for the Provision of Health Services in Nigeria through Digital Channels

Nigeria’s healthcare sector is embracing digital innovation, with services like telemedicine, e-pharmacies and mobile health platforms gaining acceptance. While these tools promise improved access and efficiency for medical services, they also introduce new legal and regulatory complexities. This article outlines the key legal considerations for delivering health services through digital channels in Nigeria—covering licensing, data […]

FIRS Issues Circular on the Implementation of Deduction of Tax at Source

SEO Summary: FIRS Withholding Tax Circular On February 24, 2025, the Federal Inland Revenue Service (FIRS) issued a circular to guide the implementation of the Withholding Tax (WHT) Regulations, 2024. Effective January 1, 2025, the FIRS withholding tax circular explains tax deductions at source and outlines compliance requirements for businesses. Key Provisions of the FIRS […]

Navigating Nigeria’s Tax Landscape: Key Trends and Developments in 2024 and Outlook for 2025

In our latest analysis, “Navigating Nigeria’s Tax Landscape: Key Trends and Developments in 2024 and Outlook for 2025,” we consider Nigeria’s evolving tax landscape. This publication examines pivotal regulatory changes, including adjustments to withholding tax rates, enhanced tax registration protocols, and the contentious windfall tax on banks. It further discusses Value Added Tax (“VAT”) modifications […]

Tax Flash Cards – October 2023

Navigating through tax statutes or even determining where to locate pertinent information can pose a daunting task for individuals who aren’t well-versed in taxation or for tax managers who are unfamiliar with the Nigerian tax system. To alleviate some of this burden, we are thrilled to introduce the UUBO Tax Flash Cards. The UUBO Tax […]

Tax Trends: The Half-Year Wrap-Up

TAXATION OF FOREIGN SHIPPING COMPANIES IN NIGERIA – MATTERS ARISING

TAX SERIES: HIGHLIGHTS OF THE FINANCE BILL 2022

On the 3rd of January 2023, President Muhammadu Buhari signed the 2023 Appropriation Bill for the implementation of the National Budget (the “Budget”) into law.  One of the key things that stood out about the Budget is that Nigeria’s projected expenditure for 2023 is the highest in its over 60-year history, with the Federal Government […]

Client Update on the Nigeria Startup Act 2022

UUBO’s General Corporate Advisory team is pleased to have published a client update on the Nigeria Startup Act 2022. Contributors to the update include Ozofu ‘Latunde Ogiemudia, Kelechi Ibe, Aanu Odunaike, Ikechukwu Fijo and Dumebi Anike-Nweze. The update highlights new developments and critical regulatory provisions of the Act that will impact the start-up ecosystem in […]

The Value Added Tax Quandary: Which Way to Go

Tax disputes in Nigeria: the tax appeal tribunal rules that the federal inland revenue service must always prove why the payment of security deposit is required from a taxpayer.

Withholding Tax Rates on Dividend, Interest and Royalty Payment to Residents of Nigeria Treaty Partners

African Private Equity And Venture Capital Association (Avca) Activity Report 2022

Members of Udo Udoma & Belo-Osagie’s Private Equity and Venture Capital and Tax teams, Folake Elias-Adebowale, Temiloluwa Olowu, Kelechi Ibe and Aanu Odunaike, have contributed the “Spotlight on West Africa” segment of the recently issued African Private Equity and Venture Capital Association (AVCA) Activity Report 2022 published this month. The Report is the 8th edition since its first release, and explores the current state […]

Tax Update: Income Tax on Profit From Bonds and Short-term Government Securities

Income Tax on Profit From Bonds and Short-term Government Securities

How the Capital Market and the Real Estate Sectors Are Impacted