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Nigeria Tax Appeal Tribunal judgment partially voids Income Tax Country-by-Country Reporting Regulations 2018

|Tax Alerts, Information Reporting, Legis ...|Nigeria
Nigeria

  • The Tax Appeal Tribunal of Nigeria (TAT) has ruled that the Income Tax Country-by-Country Reporting (CbCR) Regulations, 2018 were not made by a legally constituted and properly composed Board of the Federal Inland Revenue Service (FIRS), as required by the governing act. Therefore, to the extent of their inconsistencies, the CbCR Regulations 2018 are rendered null and void.
  • The TAT further upheld that penalty imposed on a defaulting entity must be in tandem with the relevant provisions of the pri…

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