10th August 2026
TEMPLARS Transcripts: Tax Digest | August 2026
In the August 2026 issue of TEMPLARS Tax Transcripts, our Tax Practice examines developments in treaty policy, fiscal administration, and stamp duty adjudication as Nigeria continues to align administrative practice with its new tax statutes.
Key updates include the signing of a Double Taxation Agreement between Nigeria and the Hong Kong Special Administrative Region, the commencement of the Green Tax surcharge on imported high-engine vehicles under the 2026 Fiscal Policy Measures, and the Accountant-General’s directive to Ministries, Departments and Agencies to discontinue the 1% stamp duty deduction on payments to contractors, vendors and suppliers.
For judicial developments, the Tax Appeal Tribunal held that the transfer of participatory rights and funding obligations under a Production Sharing Contract qualifies as a conveyance on sale. In a separate appeal, the Tribunal held that an instrument executed outside Nigeria will only become liable to stamping obligations upon receipt in Nigeria.
For further clarification, please contact TEMPLARS Partners, Igonikon Adekunle and Sesan Sulaiman.
