Artificial Transactions: Anti-abuse Guidelines

Section 22 of the Companies Income Tax Act Cap C21 LFN 2004 (as amended) empowers the Federal Inland Revenue Service (FIRS) to disregard any fictitious or artificial disposition* or transactions that reduces or would reduce tax payable by any taxable entity, and direct adjustments as appropriate. In the words of the law: Where the Service... Continue Reading →

Powered by WordPress.com.

Up ↑