Executive summaryNigeria’s Honorable Minister of Finance, Budget and Planning, Zainab Shamsuna Ahmed, recently issued an Order titled Companies Income Tax (Significant Economic Presence) Order, 2020 (the Order) to provide guidance on the definition of Significant Economic Presence (SEP), in relation to taxation of income derived from Nigeria by foreign companies.Section 13(4) of the Companies Income Tax Act (as amended by the Finance Act, 2019) (CITA) conferred the Finance Minister with discretionary powers to determine by an Order, what constitutes a SEP for a foreign company which provides digital services and technical, professional, management, or consultancy services in Nigeria. Accordingly, an...