The Federal Inland Revenue Services (FIRS) in Nigeria has issued a notice demanding all nonresident companies with a permanent establishment (PE) or fixed base (FB) to file tax returns on real basis. The new directive will be applicable to tax assessment years commencing as of 1st January 2015. Thus, calendar year taxpayers will be needed to comply with this measure for their 2014 financial year. The tax filing on a real basis means that companies will require to prepare as well as submit the following documents with the tax authorities:
- Self- assessment forms that have been duly completed
- Audited financial statements
- Computation of tax and capital allowances
- Proof of self –assessed tax liabilities payment.
