Tag Archives | FIRS
The Executive Chairman of the Federal Inland Revenue Service (FIRS), Mr. Babatunde Fowler, was the […]
We were having a meeting with a client the other day, on a peculiar tax situation they were likely to face on a proposed contract. We had expressed our view on the issue, but further suggested that the matter be referred to the Federal Inland Revenue Service (FIRS) for their opinion. But there was a problem. The problem, as pointed out by the client, was how much reliance they could place on the opinion from the FIRS.
Safe harbors are music to the ears of many tax practitioners and taxpayers in the transfer pricing world. When Nigeria’s Federal Inland Revenue Service(FIRS) published the transfer pricing regulations, taxpayers celebrated the inclusion of safe harbor provisions.