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Public Notice on Local Filing Provision In Regulation 4 of The Income Tax
The Federal Inland Revenue Service (“FIRS” or “the Service”) recently published a Public Notice (PN) on the Regulation 4 of the Income Tax (Country by Country Reporting) Regulations, 2018, stating that the local Country by Country (CbC) filing obligation by constituent entities of Multinational Enterprises (MNEs); i.e., branches and subsidiaries is suspended until further notice.
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