Corporate Tax 2011 - Templars Law Firm

The International Comparative Legal Guide to:
Corporate Tax 2011
A practical cross-border
insight to corporate tax work
Published by Global Legal Group with
contributions from:
Aivar Pilv Law Office
Arias & Muñoz
Avanzia Taxand Limited
Avbreht, Zajc & Partners, Ltd.
BC Toms & Co
Boga & Associates
Borden Ladner Gervais LLP
Bredin Prat
Bustamante & Bustamante
Candal-Taxand
Cárdenas & Cárdenas Abogados Ltda.
CMS Cameron McKenna LLP
Cuatrecasas, Gonçalves Pereira
Dorda Brugger Jordis
Dr Dr Batliner & Dr Gasser
Elvinger, Hoss & Prussen
Eubelius
Gide Loyrette Nouel
Greenwoods & Freehills
Hannes Snellman Attorneys Ltd.
Hendersen Taxand
Herzog Fox & Neeman
HNP Counsellors Limited – Taxand Thailand
Juridicon Law Firm
Kilpatrick Stockton
LAWIN
Lee and Li, Attorneys-at-Law
Lenz & Staehelin
LOGOS legal services
McCann FitzGerald
Nagashima Ohno & Tsunematsu
Negri & Teijeiro Abogados
P+P Pöllath + Partners
Pachiu & Associates
Pedersoli e Associati
PRA Law Offices
Proskauer Rose LLP
Salans
Simpson Grierson
Slaughter and May
TEMPLARS
White & Case
Yoon & Yang LLC

Chapter 36
Nigeria
Afolabi Elebiju
TEMPLARS
Vivian Osayande
1 General: Treaties
1.1 How many income tax treaties are currently in force in
Nigeria?
According to the Federal Inland Revenue Service (FIRS) website,
Nigeria has tax treaties (TTs) with nine countries: Belgium, Canada,
France, the Netherlands, Pakistan, Philippines, South Africa and the
United Kingdom. Although the Companies Income Tax Act
(CITA), 2004 LFN exhibits the Ministerial Orders for only 5
treaties pursuant to section 45 of the CITA, in practice the FIRS
generally regard other TTs (in so far as agreement has been signed
on behalf of Nigeria) as effective. Thus TTs with China and the
Czech and Slovak Republics are given effect to. It is unclear at the
moment whether the appropriate Orders have been made by the
Minister in respect of a number recent TTs, but UNCTAD’s Blue
Book (July 2009) lists other countries such as Republic of Korea,
Denmark, Norway, Poland and Sweden amongst those which have
TTs with Nigeria.
1.2 Do they generally follow the OECD or another model?
Nigerian TTs follow both the OECD and the UN model, albeit the
influence of the UN model is more pronounced. Also there are
strains of ‘domestic models’ of Nigeria and her negotiating partners
in the TTs.
1.3 Do treaties have to be incorporated into domestic law
before they take effect?
The constitution requires treaties to be domesticated before they can
take effect. However, as noted in question 1.1 above, the FIRS
gives effect to TTs once they have been signed on behalf of Nigeria,
including for example the Nigeria-China TT (reportedly signed in
2002, but not on the FIRS website). This may also not be
unconnected with historic FIRS practice (like many other agencies)
of the commencing implementation of government policy
initiatives/directives ahead of completion of the relevant formal
framework. The issue of the constitutionality of section 45(1) of the
CITA, pursuant to which certification by the minister that treaty
arrangements have been made with the government of any country
is sufficient to give the TT effect notwithstanding any provision of
the CITA, has not been tested.
1.4 Do they generally incorporate anti-treaty shopping rules
(or “limitation of benefits” articles)?
No they do not incorporate strict anti-treaty shopping rules.
Generally, a resident of a State that is not a party to the double
taxation treaty may establish an entity within a State that is a party
to such a treaty and obtain the benefits therefrom. Examples of
some restrictions on the enjoyment of treaty benefits is the ‘subject
to tax’ requirement (Nigeria-UK TT) or ‘beneficial owner’ concept
(Nigeria-Netherlands TT), whereby recipient enjoys a treaty rate
only if subject to tax in the country of residence and not a proxy for
the beneficial owner, respectively.
1.5 Are treaties overridden by any rules of domestic law
(whether existing when the treaty takes effect or
introduced subsequently)?
Where a treaty has been ratified, it would take precedence over any
domestic law (except the constitution, which is Nigeria’s
grundnorm) in case of any conflict.
2 Transaction Taxes
2.1 Are there any documentary taxes in Nigeria?
Yes. Stamp duties are payable under the Stamp Duties Act (SDA).
The Schedule to the SDA sets out the classification of instruments
and the applicable rates – whether ad valorem or nominal (flat)
rates, depending on the particular instrument. The current rate on
share capital is 0.75%. It is possible to structure transactions to
optimise the related stamp duty exposure. Failure to stamp
documents that are liable to stamp duties does not render the
documents void, but incapable of being tendered in evidence (in
such event the documents can be tendered upon payment of stamp
duties and any applicable penalties for failure to stamp in time).
Accordingly, in practice parties may not stamp agreements between
related companies as the prospect of dispute would be minimal.
Conversely, the share transfers of unlisted companies are stamped
as a necessary incidence of the prudent practice (but not legal
requirement) of filing share transfers at the Corporate Affairs
Commission (CAC), since the CAC would not accept unstamped
documentation for filing.
192
WWW.ICLG.CO.UK
ICLG TO: CORPORATE TAX 2011
© Published and reproduced with kind permission by Global Legal Group Ltd, London

TEMPLARS
Nigeria
2.2 Do you have Value Added Tax (or a similar tax)? If so, at
what rate or rates?
Yes, Value Added Tax (VAT) is chargeable under the VAT Act at 5%
of “the value of all taxable goods and services”. Newly-incorporated
companies register for VAT simultaneously upon registration for CIT.
There is pending litigation, instituted by Lagos State, at the Supreme
Court on the constitutionality of the VAT Act, on the basis that in
Nigeria’s federal system, State Governments, and not the Federal
Government, should collect and administer sales taxes.
2.3 Is VAT (or any similar tax) charged on all transactions or
are there any relevant exclusions?
VAT applies to the supply of goods (which includes any transaction
where the whole or property in the goods is transferred or
contemplated to be transferred) and the supply of services for a
consideration. It has been argued that only exempt items listed in
the 1 st Schedule to the VAT Act (including zero rated items in Part
III of the 1 st Schedule, as amended by VAT Amendment Act No. 12
2007), will not be subject to general VAT treatment. The VATexempt
items are necessaries (such as basic food items, medical and
pharmaceutical products and medical services) listed as a matter of
policy or law (agricultural equipment, gas-related equipment, plant
machinery or goods imported for use in export processing or free
trade zones), and exported services. The FIRS maintains that
services provided by a Nigerian resident to a non-resident client are
not “exported services” for the purpose of the VAT Act.
However, the argument has been made, equally convincingly, that
choses in action (e.g. shares, licence interests) are not subject to
VAT because they are neither “goods” nor “services”. This view
has force because tax can not be imposed by implication, but can
only be express words of the tax statute, which in any event must be
construed in favour of the taxpayer and against the Revenue.
Differences of opinion on this issue of whether VAT applies to
choses in action between the FIRS and taxpayers will hopefully
soon be the subject of judicial pronouncement.
2.4 Is it always fully recoverable by all businesses? If not,
what are the relevant restrictions?
Under the VAT Act (section 17), input VAT paid by businesses on
their purchases is recoverable from the output VAT charged on
sales. However, only input VAT incurred on goods imported or
purchased directly for the resale or goods, which form stock-intrade
for the production of other goods on which VAT is charged,
may be recovered from the output VAT. Accordingly, the input VAT
incurred on services, overheads and general administration
expenses can only be recovered through the profit and loss account.
Input VAT incurred on capital expenditure must be capitalised with
the cost of the asset in the balance sheet.
2.5 Are there any other transaction taxes?
Other transaction taxes include principally the following:
(a) Capital gains, pursuant to the Capital Gains Tax Act (CGTA),
which charges CGT on “…the gains accruing to any person on
a disposal of assets”(section 1) at 10%. By section 6(1), there
is a disposal of assets by a person “… where any capital sum
is derived from a sale, lease, transfer, an assignment, a
compulsory acquisition, or any other disposition of assets,
notwithstanding that no asset is acquired by the person paying
the capital sum”. “Capital Sum” is defined as any money or
money’s worth which is not excluded from the consideration
(b)
(c)
taken into account in the computation of the Capital Gain. The
CGTA excludes “any money or money’s worth charged to
income tax as income of, or taken into account as, a receipt in
computing income or profits or gains or losses of the person
making the disposal” for the purpose of the CIT. In practice,
CGT is computed at 10% of the net gain (i.e. transfer proceeds
less acquisition, historical costs such as enhancement of asset
and transfer-related costs). By virtue of section 41 of the
CGTA, CGT is subject to the terms of any applicable TTs. For
a Nigerian resident, it is irrelevant that such asset is not
situated in Nigeria; for a non-resident, CGT will only be levied
on the amount received or brought into Nigeria.
Property taxes, especially consent fees charged on the
transfer of any interest in property pursuant to the Land Use
Act. The rates vary from State to State and in Lagos State it
is an average of 15% of the asset value or consideration.
Federal rates (in respect of transactions in Federal land) tend
to be lower.
Perfection costs such as CAC filing fees on mortgages,
charges and registration fees at Lands Registry etc. Land
Use Charge (or its equivalent) is not a transaction tax from a
strict point of view because it is not triggered by any
transaction – liability arises by virtue of the property being in
existence and in a location subject to jurisdiction of the
enabling Law.
2.6 Are there any other indirect taxes of which we should be
aware?
Yes there are, and some of these are excise duties, import duties and
export duties. Import duties are assessed using the ECOWAS
Common External Tariff (CET) and the Comprehensive Import
Supervision Scheme (CISS), with an administrative charge of 1% of
F.O.B; the value of the imports. Other charges are: 7% surcharge
calculated on the customs duty; 0.5% trade liberalisation scheme levy
(on customs duty from non-ECOWAS countries); VAT at 5% on the
CIF value of imports, customs duty and the allied charges mentioned
above; and other applicable levies, for example port surcharges.
3 Cross-border Payments
3.1 Is any withholding tax imposed on dividends paid by a
locally resident company to a non-resident?
Yes. Withholding tax (WHT) applies at 10% or 7.5% if the
shareholder is resident in a country which has TTs with Nigeria. In
either case, the WHT is the final tax on such dividend for the nonresident.
Pursuant to section 23 of the CITA, a dividend received
from investments in wholly export-oriented businesses is tax
exempt and therefore would not be subject to WHT.
3.2 Would there be any withholding tax on royalties paid by a
local company to a non-resident?
Yes, at the rate of 10% (non-resident individuals 5%). Nigeria TTs
also have beneficial provisions on royalties. WHT deducted on
royalties and interest is the final tax on such income for nonresidents.
3.3 Would there be any withholding tax on interest paid by a
local company to a non-resident?
WHT is applicable at 10% or 7.5% if a non-resident lender is based
in a TT country. However, foreign loans could qualify for full or
Nigeria
ICLG TO: CORPORATE TAX 2011
© Published and reproduced with kind permission by Global Legal Group Ltd, London
WWW.ICLG.CO.UK
193

TEMPLARS
Nigeria
Nigeria
partial WHT exemption based on tenor – including a moratorium
and grace period, pursuant to the 3 rd Schedule of the CITA; loans
with a 7 year + tenor enjoy 100% exemption. The moratorium
period (payment of only the interest but not the principal) could be
zero, but there must be a grace period (during which neither interest
nor principal is payable, although interest accrues). Accelerated
repayment results in loss of the (full) exemption or triggers
graduated exemption depending on timing.
3.4 Would relief for interest so paid be restricted by reference
to “thin capitalisation” rules?
No, there are generally no thin capitalisation rules; interest is
allowed as a deductible expense. However the FIRS would be
interested in the competitiveness of the interest rates, and could
adjust the transaction to impose a “realistic” or “arm’s length”
commercial interest rate and tax the borrower’s profits accordingly,
if they are of the view that the interest is excessive, especially in
related parties’ context. On the other hand, the FIRS does not query
interest free loans or concessionary interest rates from foreign
lenders to Nigerian companies, since this results in higher taxable
profits for the Nigerian company, which is taxable at 30%, rather
than the 10% WHT to be withheld on the interest income.
3.5 If so, is there a “safe harbour” by reference to which tax
relief is assured?
The only “safe harbour” is that the interest was incurred in order to
generate income (i.e. it was an expenditure incurred “wholly,
exclusively, necessarily and reasonably” for that purpose), and the
same is deductible.
a deductible expense. However, it is generally possible to achieve
reasonable transfer pricing objectives with appropriate structuring
of contracts.
4 Tax on Business Operations: General
4.1 What is the headline rate of tax on corporate profits?
CIT is charged on corporate profits accruing in, derived from,
brought into or received in Nigeria at 30%. Nigerian companies are
also liable to education tax at 2% of their assessable profits. The
education tax is deductible for CIT purposes.
4.2 When is that tax generally payable?
Generally it is payable within 6 months from the end of the
accounting year when self-assessment returns are filed, and
accompanied at least by instalment payments of the tax due (unless
the company is in a refund position, for example by reason of
excess withholding tax credits).
Eligible companies may enjoy tax incentives, including tax
holidays pursuant to the CITA (section 39 on downstream gas
utilisation) or the Industrial Development (Income Tax Relief) Act
(for “pioneer” companies), which includes the solid minerals sector.
Companies in export processing or free trade zones are exempt
from all Federal, State, LG taxes, levies and rates, to the extent that
100% of their production is for export, otherwise tax accrues
proportionately on the profits. This, however, does not relieve them
of reporting requirements to regulatory agencies within the Zones.
194
3.6 Would any such “thin capitalisation” rules extend to debt
advanced by a third party but guaranteed by a parent
company?
See questions 3.4 and 3.5 above. Thin capitalisation is relevant for
financial institutions (especially banks), which have strict capital
adequacy requirements, but these are not tax-driven, but sectorregulated.
3.7 Are there any restrictions on tax relief for interest
payments by a local company to a non-resident in
addition to any thin capitalisation rules mentioned in
questions 3.4-3.6 above?
None – if the expense meets the “wholly, exclusively, necessarily
and reasonably” test of section 24 of the CITA and the interest rate
is competitive.
3.8 Does Nigeria have transfer pricing rules?
Yes, the general anti-avoidance provision of section 22 of the CITA
empowers the FIRS to adjust transactions (especially between
related parties) that it considers artificial or fictious, being entered
into for the primary purpose of reducing tax that would have been
otherwise due, and tax the same accordingly. Pursuant to the
National Office for Technology Acquisition and Promotion
(NOTAP) Act, NOTAP regulates technology payments by Nigerian
beneficiaries to non-resident service providers or licensors of
intellectual property, with a view to checking transfer pricing
abuses. On this basis, fees paid under registrable but unregistered
service agreements with NOTAP may be disallowed by the FIRS as
4.3 What is the tax base for that tax (profits pursuant to
commercial accounts subject to adjustments; other tax
base)?
Tax is assessed on total profits pursuant to audited accounts which
are subject to adjustments. Provisions on the payment of minimum
tax may be triggered, but this does not apply to Nigerian companies
which have at least 25% foreign participation, carrying on
agricultural trade or business within the first four years of the
commencement of business (section 33 of the CITA). Sections 19
and 20 of the CITA provide for excess dividend tax, whereby if in
any year the amount of dividends paid exceed the tax payable or the
tax is not payable at all (for example, if dividend is being paid out
of retained earnings), then the company paying the dividend shall
pay CIT on the amount of the dividend “as if the dividend is the
total profits of the company for the year of assessment to which the
accounts, out of which the dividend is declared, relates”. There are
creative opportunities and sustainable arguments to manage this
exposure. Also, section 21 of the CITA stipulates that undistributed
profits of a closely-held company of less than five shareholders may
be treated as distributed for the purpose of taxing the deemed
distribution in the hands of the shareholders through WHT.
4.4 If it otherwise differs from the profit shown in commercial
accounts, what are the main other differences?
None – save for observations above.
4.5 Are there any tax grouping rules? Do these allow for
relief in Nigeria for losses of overseas subsidiaries?
Group tax relief is not allowed in any shape or form in Nigeria –
WWW.ICLG.CO.UK
ICLG TO: CORPORATE TAX 2011
© Published and reproduced with kind permission by Global Legal Group Ltd, London

TEMPLARS
Nigeria
each company is treated as a separate taxable entity. On the basis of
the “wholly, exclusively, necessarily and reasonably incurred”
expense deductibility test in section 24 of the CITA, losses of
overseas subsidiaries should be allowed to reduce the taxable profits
of the Nigerian parent, particularly as such investment income would
have been taxable when brought into Nigeria, but for the specific
exemption in, and upon compliance with, section 23(1)(k) of the
CITA. However, the foregoing would also be subject to the
qualification that the CITA precludes loss from one trade/business
being offset against income from another trade or business.
4.6 Is tax imposed at a different rate upon distributed, as
opposed to retained, profits?
Generally, no. However, by section 21 of the CITA, where small
closely-held companies that have distributable profits (which could be
declared as dividends) fail to do so, the FIRS could deem the
dividends as distributed for the purpose of enforcing payment of WHT
on the deemed distribution from the company. This provision does not
apply to companies which have more than 5 shareholders.
4.7 What other national taxes (excluding those dealt with in
“Transaction Taxes”, above) are there - e.g. property
taxes, etc.?
There is the Education Tax which is charged at 2% of assessable
profits and is imposed on all companies incorporated in Nigeria.
Sectoral taxes, for example the NITDA Levy (1% of profit before
tax), is payable to FIRS by operators in the telecoms/IT industry, and
financial institutions including pension operators, etc., with an annual
turnover of N100 million and above. The Industrial Training Fund
(ITF) Act requires every employer, who has 25 or more employees,
to contribute 1% of annual payroll costs to the ITF; however, the ITF
may grant up to a 60% refund of an employer’s contribution if such
employer satisfies the ITF in respect of the adequacy of its employee
training programme in any particular year.
4.8 Are there any local taxes not dealt with in answers to
other questions?
There are several other taxes, fees and levies which varies from
State to State and local government (county) to local government.
The Taxes & Levies (Approved List for Collection) Act sets out the
list. It is to be noted that State Houses of Assembly, ostensibly
relying on constitutional provisions they argue enable them in that
behalf, have legislated for additional taxes collectible by their State
or local governments. The wider constitutional issue of whether the
Act (a federal legislation) could limit taxes collectible by State and
local governments is yet to be decisively determined, although there
have been decisions, such as Eti-Osa Local Government v. Rufus
Jegede & Anor. (2007) 5 CLRN 67 (Court of Appeal), which held
that particular levies were invalid as they were inconsistent with the
Act.
5 Capital Gains
5.1 Is there a special set of rules for taxing capital gains and
losses?
Yes, these rules are contained in the CGTA. The basis of
computation is that of net gain - by deducting from the sum
received or the receivable person realising the chargeable gain, the
cost of acquisition to the plus expenditure incurred on the
improvement or expenses incidental to the realisation of the asset.
5.2 If so, is the rate of tax imposed upon capital gains
different from the rate imposed upon business profits?
Yes it is. The rate for capital gains is 10%, while that of business
profits is 30%.
5.3 Is there a participation exemption?
Sections 30 and 32 of the CGTA exempts gains from the transfer of
shares arising from mergers, acquisitions or other forms of business
combinations from the CGT. Gains accruing to holders of unit trusts
are also exempt provided the proceeds are re-invested (section 33).
Ecclesiastical, charitable or educational institutions and statutory and
diplomatic bodies are exempt. Also the transfer of assets from trustees
to beneficiaries will not attract CGT. Other exemptions include: gains
made upon a disposal of business assets where the proceeds are spent
in acquiring new business assets; and gains made upon the disposal of
an interest in the rights under any policy of an assurance or contract
for a differed annuity on the life of any person.
5.4 Is there any special relief for reinvestment?
Yes. In addition to section 33 on the exemption of proceeds of unit
trust in question 5.3 above, under section 32(1) of the CGTA, where
businessmen or traders sell assets of old businesses and use the
proceeds to procure new and similar business assets, then no gain
will be said to have occurred.
6 Branch or Subsidiary?
6.1 What taxes (e.g. capital duty) would be imposed upon the
formation of a subsidiary?
During incorporation, stamp duty is charged at 0.75% of the
companies share capital. Stamp duty will also apply if the share
capital of the subsidiary is to be increased post-incorporation.
6.2 Are there any other significant taxes or fees that would be
incurred by a locally formed subsidiary but not by a
branch of a non-resident company?
None; in any event branch registration is not permitted in Nigeria,
as section 54 of the Companies and Allied Matters Act (CAMA)
requires foreign companies to incorporate Nigerian subsidiaries in
order to do business in Nigeria. Although there is provision for
exemption from incorporation pursuant to section 56 of the CAMA,
that procedure, given its cumbersome nature, is rarely invoked.
6.3 How would the taxable profits of a local branch be
determined?
Not applicable. Nigerian tax rules do not distinguish between local
branches and Nigerian subsidiaries – the rules are applied to taxable
income in the same manner. As a matter of practice, historically (to
overcome associated logistical challenges, etc.) the FIRS assesses
non-resident companies to tax, using a deemed profit rate of 20%,
which, given the 30% CIT rate, effectively translates into 6% of
turnover. Such non-residents would prefer high margin projects to be
Nigeria
ICLG TO: CORPORATE TAX 2011
© Published and reproduced with kind permission by Global Legal Group Ltd, London
WWW.ICLG.CO.UK
195

TEMPLARS
Nigeria
Nigeria
taxed on a deemed basis, but low margin ones on actual figures. This
is in contrast to residents which are only taxed on the basis of their
audited accounts. The FIRS is however moving away from using
deemed profit and instead insisting on taxation based on actual figures.
6.4 Would such a branch be subject to a branch profits tax (or
other tax limited to branches of non-resident companies)?
No it would not.
6.5 Would a branch benefit from tax treaty provisions, or
some of them?
Every Nigerian or non-resident company will benefit from
applicable treaty provisions.
6.6 Would any withholding tax or other tax be imposed as the
result of a remittance of profits by the branch?
Any profits to be remitted to the non-resident would be regarded as
dividends and subject to WHT at 10% or 7.5%, if based in a treaty
country.
7 Anti-avoidance
7.1 How does Nigeria address the issue of preventing tax
avoidance? For example, is there a general antiavoidance
rule or a disclosure rule imposing a
requirement to disclose avoidance schemes in advance of
the company’s tax return being submitted?
The general anti-avoidance provision is to be found in section 22 of
the CITA (and also section 20 of the CGTA), giving FIRS the power
to adjust transactions that it considers artificial or fictitious.
Specific anti-avoidance provisions include sections 19, 20 and 21 of
the CITA on excess dividend tax and deemed distribution
respectively (see question 4.3 above). In respect of CGT, antiavoidance
provisions target bargains comprising two or more
transactions and transactions between “connected persons”
(sections 19 and 22). There is no general anti-avoidance rule or
disclosure rules’ imposing a requirement to disclose avoidance
schemes. The FIRS uses its audit powers to review transactions and
may issue additional assessments or take other necessary action as
it deems fit.
Afolabi Elebiju
TEMPLARS
13A, A.J. Marinho Drive
Victoria Island, Lagos
Nigeria
Tel: +234 1 4611 290 93
Fax: +234 1 4611 294
Email: afolabi.elebiju@templars-law.com
URL: www.templars-law.com
Afolabi Elebiju, LLM (Harvard), Fellow, Chartered Institute of
Taxation of Nigeria (FCTI), is a Partner, the tax team and M&A
leader at Templars, a leading full service commercial law firm in
Nigeria. He was previously Senior Manager, Tax & Regulatory
Services at KPMG Professional Services, where amongst others,
he focused on optimal tax and regulatory structuring of several
landmark transactions across all sectors, particularly foreign
investments. A participant at the inaugural KPMG’s African Tax
Academy, he is a member of CITN’s Indirect Tax Faculty, and
facilitates at CITN training programmes. He recently spoke on
Free Trade Zones & Nigeria Tax Regime and Tax Issues in Trusts
& Estates. Afolabi contributes a tax focused column,
Taxspectives to THISDAY Lawyer, the legal section of leading
Nigerian daily, THISDAY newspapers. Afolabi’s numerous
publications (articles, case reviews, book reviews) on energy,
corporate, commercial and tax law issues have appeared in
prestigious international legal journals.
Vivian Osayande
TEMPLARS
13A, A.J. Marinho Drive
Victoria Island, Lagos
Nigeria
Tel: +234 8 3405 4846, 4611 889 90
Fax: +234 1 4611 294
Email: vivian.osayande@templars-law.com
URL: www.templars-law.com
Vivian Osayande advises multinational corporations and other
entities on matters involving taxation and transaction structures.
Vivian possesses a deep understanding of legal and fiscal
systems. Recently, Vivian advised BJ Services on the Nigerian
tax and regulatory aspects of its $US5.5 billion dollar acquisition
by Baker Hughes, assisting with the structure of the employee
remuneration and other end of service benefits with a view to
achieving optimum tax advantage on the transaction.
Vivian, a Senior Associate at Templars and a core member of the
firm’s Tax and Corporate Commercial Practice Groups, graduated
from Ambrose Ali University and was admitted to the Nigerian Bar in
2004. Vivian is a member of the US-based National Employment
Lawyers Council and is also a member of the Chartered Institute of
Arbitrators as well as the Nigerian Industrial Relations Association.
Vivian has several published articles to her credit and she is also a
sought-after conference speaker.
TEMPLARS is a leading full service commercial law firm in Nigeria, with the know-how to provide innovative commercial solutions
for clients with diverse needs. With over 40 lawyers and 12 partners working out of offices in Lagos, Abuja, Port Harcourt and
Uyo, Templars is strategically placed to offer quality legal services to clients in Nigeria’s major economic hubs. We are organised
into Corporate Commercial, Energy & Projects, Finance and Dispute Resolution Practice Groups. The Tax practice straddles all
the Groups and has been involved with transaction advisory, structuring, compliance, tax litigation and investment arbitration.
At Templars, we pride ourselves on our multi-specialist strengths in diverse areas of the law and a can-do, collaborative mindset
in helping clients achieve their business goals. We have a reputation for understanding our clients’ operating industries and the
core of our expertise is demonstrated by our comprehensive and practical approach in addressing individual client’s needs.
196
WWW.ICLG.CO.UK
ICLG TO: CORPORATE TAX 2011
© Published and reproduced with kind permission by Global Legal Group Ltd, London

The International Comparative Legal Guide to:
Corporate Tax 2011
Other titles in the ICLG series include:
Business Crime
Cartels & Leniency
Class Actions
Commodities and Trade Law
Competition Litigation
Corporate Governance
Corporate Recovery & Insolvency
Dominance
Employment Law
Enforcement of Competition Law
Environment Law
Gas Regulation
International Arbitration
Litigation & Dispute Resolution
Merger Control
Mergers & Acquisitions
Patents
PFI / PPP Projects
Pharmaceutical Advertising
Product Liability
Public Procurement
Real Estate
Securitisation
Telecommunication Laws and Regulations
To order a copy of a publication, please contact:
Global Legal Group
59 Tanner Street
London SE1 3PL
United Kingdom
Tel: +44 20 7367 0720
Fax: +44 20 7407 5255
Email: sales@glgroup.co.uk
www.ICLG.co.uk