The Transfer Pricing Division of Nigeria’s Federal Inland Revenue Service has announced that non-resident companies will be required to file their returns in accordance with section 55 of the income tax law for companies. This includes the filing of returns based on audited accounts in reporting income from operations in Nigeria. Previously, non-residents were allowed to file returns based on a deemed profit basis. The change is effective immediately and non-residents that have already submitted their 2014 returns based on a deemed profits basis will have to resubmit their returns in accordance with section 55.