10 September 2018 Nigeria releases new transfer pricing regulations Nigeria's Federal Inland Revenue Service (FIRS) recently released The Income Tax (Transfer Pricing) Regulations, 2018 (new Regulations), with an effective date of March 12. The new Regulations replace the Income Tax (Transfer Pricing) Regulations, 2012 (old Regulations) and shall apply to financial years beginning after March 12, 2018. The new Regulations were issued to reflect some of the main transfer pricing (TP) related changes introduced to the 2017 edition of the Organisation for Economic Co-operation and Development Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations (OECD TPG) and the United Nations Practical Manual on Transfer Pricing for Developing Countries (UN TP Manual). Document ID: 2018-1774 |
