Sign up for tax alert emails GTNU homepage Tax newsroom Email document Print document Download document | |||
May 15, 2024 Nigeria introduces penalties for companies that do not file expatriate quota returns on time Nigeria's Federal Ministry of Interior (FMI) recently confirmed, via its designated online portal, that companies that do not file monthly expatriate quota (EQ) returns on time will be subject to penalties effective 10 June 2024. Nigerian companies are required to obtain EQ approval from the FMI prior to hiring foreign nationals. These companies are also required to submit their EQ returns monthly, via the FMI's designated online platform, within the first 10 days of each month. These online returns provide comprehensive information regarding the EQs granted to companies and their utilization. EQ returns also capture the National Identification Number (NIN) of foreign employees and their Nigerian counterparts. A Tax Alert prepared by EY's People Advisory Services group, and attached below, provides additional details.
| |||