On Friday, 3 November 2017, the Nigerian Investment Promotion Commission (NIPC) and the Federal Inland Revenue Service (FIRS) jointly launched the first edition of the ‘Compendium of Investment Incentives in Nigeria’ (“the Compendium”).
The Compendium is a compilation of fiscal incentives and sector specific concessions provided for in the Nigerian tax laws and other legal instruments. It seeks to provide a one-stop reference document for investors (or potential investors) in the Nigerian economy seeking to know what fiscal incentives or concessions are or will be available to them.
This first edition of the Compendium highlights the following:
- Investment policies and protections;
- General tax based incentives;
- Sector specific incentives;
- Tariff based incentives;
- Export incentives;
- Special economic zones incentives; and
- Contact addresses of relevant government agencies.
We believe that every Nigerian business will find this document very useful; in claiming applicable incentives, making strategic management investment decisions and in advising clients (where applicable). Although this first edition of the Compendium is not exhaustive of all the fiscal incentives inherent in the laws, it is expected that subsequent editions will cater to the comprehensive listing of all the fiscal incentives and concessions.
You may view or download a copy of the compendium here.