Under the Finance Act 2021, a new Levy – NASENI levy, has also been introduced.
This Levy can be likened to the NITD levy.
This Levy is to be assessed at the rate of 0.25% of the profits before tax of companies engaged in the business of banking, mobile telecommunication, ICT, aviation, maritime and oil and gas with turnover of N100 million and above.
This tax is also to be administered by the Federal Inland Revenue Service (FIRS).
For further enquiries, discussion, advisory or help around complying with these new laws, please send us an email via clients@vi-m.com. You will be able to access all our explanatory write-ups on each of the major changes to the laws, brought about by the Finance Act 2021 and the practical ways in which they will affect taxpayers going forward, under our website group link – https://www.vi-m/category/Finance-Act-2021.