1. Here is a Tax roundup for 2018. I have selected the major developments that shaped Nigeria’s taxation landscape in 2018. Follow the thread. #TaxRecap2018 
2. Tax Appeal Tribunals were reconstituted in July 2018, with one each in the 6 geopolitical zones, Lagos and Abuja, totalling 8. The Tribunals will help to accelerate the resolution of pending and new tax cases. More details here blog.deloitte.com.ng/federal-govern… #TaxRecap2018
3. One year Voluntary Offshore Assets Regularisation Scheme (VOARS) was launched on October 2018 with a view to combating money laundering and tax evasion. The predecessor Scheme (VAIDS) ended on 30 June 2018. blog.deloitte.com.ng/analysis-and-i… #TaxRecap2018
4. Nigeria released a revised Transfer Pricing Regulations in 2018 which introduced additional compliance obligations for taxpayers and increased penalties for non-compliance. blog.deloitte.com.ng/firs-issues-pu… #TaxRecap2018
5. Multi-National groups with Nigeria tax-resident parent or constituent having minimum consolidated revenue of N160b are now required to submit Country by country report. It’s a major step towards implementing OECD’s BEPS program. blog.deloitte.com.ng/an-overview-of… #TaxRecap2018
6. The VAT law was modified in 2018 by an Executive Order which grant VAT exemption for residential property leases or rentals, public transport services and life insurance premiums. VAT on domestic airline tickets remain contentious. blog.deloitte.com.ng/fec-approves-e… #TaxRecap2018
7. Excise duty regime for alcoholic beverages and tobacco products was changed in 2018 from ad-valorem to specific rate taxation for beer, stout, wines and spirits. Cigarettes and tobacco retain ad-valorem plus specific rates of duty. blog.deloitte.com.ng/federal-govern… #TaxRecap2018
8. @followlasg introduced a new Land Use Charge Law in 2018 which consolidated all property and land based charges into a single law. The law generated public outcry from various stakeholders which resulted in the review of charges. blog.deloitte.com.ng/lagos-state-go… #TaxRecap2018
9. @NGRPresident assented to the Double Taxation Agreement between Nigeria and Spain in Jan 2018. Other tax treaties, including those with Ghana and Cameroon which were concluded in 2018, are awaiting legislative ratification and assent. blog.deloitte.com.ng/nigeria-signs-… #TaxRecap2018
10. @firsNigeria initiated withholding tax reconciliation to clean up taxpayers’ records as part of the process towards automating the process with forfeiture threat to taxpayers who fail to comply with the directive before 30 Aug deadline. blog.deloitte.com.ng/loss-of-wht-cr… #TaxRecap2018
11. Registered businesses in Nigeria were mandated to obtain new VAT certificates and display same at their business premises while customers were asked to report VAT collectors who fail to comply with this directive to @FIRSNigeria blog.deloitte.com.ng/firs_mandates_… #TaxRecap2018
12. Efforts at uncovering non-compliant taxpayers led to freezing of bank accounts by @firsNigeria . This action sent shock waves into the system and impacted some genuine taxpayers who maintained that their tax records are up to date. blog.deloitte.com.ng/federal-inland… TaxRecap2018
13. Nigeria’s ranking in the annual Paying Taxes index improved by 14 places from 171 to 157. Paying Taxes is one of the areas covered under the World Bank’s Doing Business report where Nigeria dropped by 1 point to 146 out of 190 counties. blog.deloitte.com.ng/world-bank-doi… #TaxRecap2018
14. Here is one of the articles that showcased other various developments within the tax space and the need to strike a delicate balance between tax penetration and economic recovery. blog.deloitte.com.ng/taxing-nigeria… #TaxRecap2018
15. At end of 2018, Nigeria’s registered taxpayer stand at about 20m and more are being added through database consolidation, data mining (project lighthouse) and other inititiaves. What other notable tax news is missing on my #Top12TaxTopic for 2018? Share yours. #TaxRecap2018
