CONSTITUENT ENTITIES RESUME CBC REPORTS FILING IN NIGERIA

Nigeria’s Federal Inland Revenue Service (FIRS) has issued a Public Notice [BO1]  to lift its May 2021 suspension of Local Filing of Country-by-Country (CbC) Reports by Constituent Entities in Nigeria. Constituent Entities are the Nigeria-based subsidiaries and branches of Multinational Enterprises. Relevant Constituent Entities are now to, with effect from January 1, 2022, duly make their CbC Reports Local Filing with FIRS in compliance with Regulation 4 of the CbC Regulations 2018 (CbC Regulations).[BO2]  You may recall that the obligation placed on relevant Ultimate Parent Entities (UPEs) under Regulation 3 of the CbC Regulations was never suspended.

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