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On the 6th of May, the Central Bank of Nigeria (CBN) issued a circular to implement cybersecurity levy on electronic transactions. The cybersecurity levy involves a deduction of 0.5% (half a percent) from the value of all electronic transactions.

To promote transparency and curb fraudulent activities, the Corporate Affairs Commission (CAC) of Nigeria has mandated all Point of Sale (PoS) agents to register their businesses on or before the 7th of July 2024…

In a significant move to improve national cybersecurity, the Central Bank of Nigeria (CBN) has announced the implementation of a new cybersecurity levy, as detailed in the recent circular following the enactment of the Cybercrime (Prohibition, Prevention, etc.) (Amendment) Act 2024, an amendment of the Cybercrime (Prohibition, Prevention, etc.) Act of 2015…

Wealth management experts connected from different locations at the 2024 Conversations on Wealth Management Webinar to discuss the trends and dynamics shaping the lives and legacies of Affluent and High-Net-worth individuals (HNIs).

The Prime Ministers of Antigua & Barbuda, the Commonwealth of Dominica, Grenada, and Saint Kitts & Nevis have signed a memorandum of understanding (MoU) to enhance the integrity and value of their citizenship by investment (CBI) programs.

According to the World Happiness Report, these are some of the happiest countries in the world.

Netherlands (Rank 6)
Luxembourg (Rank 8)
Switzerland (Rank 9)
Australia (Rank 10)
New Zealand (Rank 11)

The Nigerian Federal Ministry of Interior recently released a handbook introducing a compulsory annual levy on foreigners who are employed to work in Nigeria. The levy was introduced as a fiscal measure to address socio-economc considerations within the country. The Expatriate Employment Levy (EEL) seeks to balance the benefits of expatriate employment with the benefits of Nigerian local labour market and resources.

According to a report by Investment International, The Bahamas, along with Belize, Seychelles, and Turks and Caicos Islands, have been removed from the European Union’s list of non-cooperative jurisdictions for tax purposes. This decision recognizes that these jurisdictions have implemented measures to address concerns around information exchange, harmful tax practices, artificial tax structures, and financial crime prevention.

The removal signals The Bahamas’ commitment at the highest political levels to comply with international tax standards. This is critical for The Bahamas’ reputation as a well-regulated financial center.

Industry associations in The Bahamas commended the government’s efforts and noted the positive impact this will have on investor confidence.

The EU list now consists of 12 non-cooperative jurisdictions. The EU Council urged these jurisdictions to improve their legal frameworks to resolve the identified issues.

The Bahamas and Turks and Caicos Islands specifically addressed prior deficiencies in enforcing economic substance requirements, leading to their removal.

Belize and Seychelles were removed pending supplementary reviews by the OECD Global Forum regarding information exchange.

The EU also recognized progress made by several other jurisdictions in meeting tax governance commitments.

The United Kingdom has officially signed the 2019 Hague Convention on recognizing and enforcing foreign rulings in civil and business lawsuits. This agreement with the 28 European Union countries and Ukraine constructs an international system for validating and carrying out verdicts in cross-border civil disagreements. A 2023 survey showed nearly full backing among participants in all parts of the UK, particularly from STEP, which has a strong interest in judgments involving mental ability.