Tax refunds in Nigeria - Myth or reality?

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Tax refunds in Nigeria - Myth or reality? New publication

Dear Vitus We are pleased to announce our latest publication, Tax refunds in Nigeria - Myth or Reality.  Tax refunds have a growing perception of being a myth in Nigeria. There is a general pessimism about the likelihood of getting refunds for overpaid taxes. But the tax authorities will argue differently, and state that tax refunds are given for valid claims. Our publication highlights the general issues and bottlenecks surrounding the efficient administration of tax refunds in Nigeria, focusing on Federal Inland Revenue Service (FIRS) refunds. A taxpayer may request a refund for various reasons including: Tax remittances made with mistaken Tax Identification numbers (TIN) Withholding tax deductions in excess of income tax payable. When input VAT exceeds output VAT Other computation or payment errors. Whether tax refund is a myth or reality in Nigeria will depend on who you ask. However, refunds would likely be considered more of a myth to many businesses, especially to those whose refund requests exceeded the FIRS' N25bn refund budget, or who are hit with additional liabilities following a refund audit. Download publication Contact us

Kenneth Erikume Partner, Tax +234 (1) 271 1700 Email Tunde Adedigba Director, Tax +234 (1) 271 1700 Email

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