Ernst &Young Nigeria, among other things, seeks to address the many concerns of multinational enterprises on their reporting obligations to the Federal Inland Revenue Service (FIRS) with regards to the Country-by-Country reporting.

This is on the back of the income tax (Country-by-Country Reporting) regulations released recently by the Federal government, with an effective date commencing on January 01, 2018.

The regulations set the framework for the automatic exchange of Country-by-Country Reports in accordance with the Multilateral Competent Authority Agreement (MCAA) signed by Nigeria in January 2016 and ratified by the Federal Executive Council in August 2016.

Speaking on the move, Akinbiyi Abudu, Partner & Tax Services Leader (EY West Africa) stated that the event tagged ‘knowledge sharing session’ is aimed at addressing all enquiries pertaining to the Regulations and the implications for taxpayers.

“The Knowledge-sharing session is being organized as part of EY’s commitment in supporting Multinational Enterprises to better understand their compliance obligations in Nigeria and avoid penalties for non-compliance”, Akinbiyi noted.

The event is slated for Wednesday, 25 July 2018, at EY Nigeria office, UBA House, Marina, Lagos.

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