Nigeria Issues Notice on Submission of CbC Notifications

On 17 September 2018, Nigeria's Federal Inland Revenue Service (FIRS) issued a public notice on the obligation to submit a notification pursuant to Regulation 6 of the Income Tax (Country by Country Reporting) Regulations 2018, which entered into force with effect from the accounting year beginning 1 January 2018. As per the Regulation, the public notice provides that any constituent entity of an MNE group resident in Nigeria must notify FIRS whether it the ultimate or surrogate parent no la…