Nigeria's Federal Inland Revenue Service has reportedly issued the Income Tax (Transfer Pricing) Regulations 2018, which replace the 2012 regulations and incorporate certain aspects of the 2017 OECD Transfer Pricing Guidelines and other changes. Key points of the new regulations include:
- Changes in the definition of connected (related) persons, including that persons will be deemed connected when one person has the ability to control or influence the other person in making financial, commerc…