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Nigeria: Reminder of 31 December deadline for transfer pricing compliance

Nigeria: 31 December deadline for transfer pricing

The Federal Inland Revenue Service established 31 December 2018 as the deadline for taxpayers to comply with their pending transfer pricing obligations—including the requirement to declare and disclose all their related-party transactions and to submit transfer pricing documentation.

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Taxpayers with related-party transactions and that fail to file transfer pricing returns may be subject to penalties in the range of ₦10 million per year for each type of default.

 

Read a December 2018 report [PDF 127 KB] prepared by the KPMG member firm in Nigeria

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