On 10 March 2022, the Corporate Affairs Commission (CAC) informed the general public, through its Public Notice, that it has stopped approving schools, academies and
The Finance Act 2021 has now bestowed on the Minister of Finance, the power and responsibility to make regulations (subject to the approval of the
Prior the Finance Act 2021, the profits of any Nigerian company in respect of goods exported from Nigeria was exempted from companies income tax, if
Prior the Finance Act 2021, before any taxpayer could make payments of companies’ income tax in instalments, the taxpayer was required to first write to
Prior the Finance Act 2021, stakeholders had clamoured for the simplification and rewording of the income tax laws pertaining to insurance companies, in order to
A company engaged in a trade or business of gas utilisation in downstream operations in Nigeria is entitled to a tax-free period (for 3 years
Where a company has both taxable and non-taxable (tax-exempt) income streams, capital allowance computations / claims will be segregated or classified along the two income
Prior the Finance Act 2021, there was a waiver/ reduction in rate of minimum tax (from 0.5% to 0.25% of gross turnover), necessitated by the
Under the Finance Act 2021, the withholding tax deducted from any interest payment to Unit Trusts and paid to the tax authority (the tax must
The Finance Act 2021, has clarified that the exemption from VAT compliance obligations granted by the Finance Act 2019, does not apply to companies engaged
