A review of the major tax events of 2014 and the outlook for 2015.

The year 2014 will go down in history as one year in which tax matters was prominent in national and global discourse across the spectrum.

This article outlines some of the major events of the past year and offers an outlook for 2015 and it covers various aspects from policy and legislation to administration and tax adjudication.

We project that falling oil prices and the depletion of Nigeria's foreign reserve will force government to take measures that will change the tax landscape. Taxpayers must resolve to comply fully with their tax obligations, pay the right amount of tax and do so on time. We also advocate that Government simplifies the tax system, put tax money to work and be more transparent and accountable to the people.

Download: How The Past Will Shape The Future

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.