Nigeria Formally Publishes CbC Reporting Regulations
On 19 June 2018, Nigeria's Federal Inland Revenue Service (FIRS) formally published the Income Tax (Country-by-Country Reporting) Regulations, 2018. Key points of the regulations are summarized as follows
- The CbC reporting requirement applies for resident parent companies of groups meeting an NGN 160 billion consolidated group revenue threshold in the previous year, as well as non-parent const…