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The National Agency For Science And Engineering Infrastructure Levy
Posted by Iheonu Nkechi Gloria 3 years agoTax DiscussionSince its enactment in 1992 the funding provisions of the NASENI Act have not been fully implemented especially concerning the levy on commercial companies and firms that meet the ₦4 million turno ...
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The Ongoing VAT Face-Off In Nigeria: The Way Forward
Posted by Iheonu Nkechi Gloria 3 years agoTax DiscussionThe case between theAttorney General of River State v Federal Inland Revenue Service (FIRS) and Anorhas become a highly controversial one. The traction it has gained in recent weeks has rekindled the ...
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The Petroleum Industry Bill (PIB): Top 20 Changes You Should Know!
Posted by Iheonu Nkechi Gloria 3 years agoTax DiscussionThe PIB seeks to provide legal governance regulatory and fiscal framework for the Nigerian Petroleum Industry and development of Host Communities. It contains 5 Chapters 319 Sections and 8 Schedul ...
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The Principle Of Tax Incentives In Nigeria (Pioneer Status)
Posted by Iheonu Nkechi Gloria 3 years agoTax DiscussionThe tax incentives in Nigeria are tax reliefs or exemptions granted by the Nigerian Government to qualified multinational investment projects or companies whose income or profit are derived from brou ...
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Things to know about the Finance Act 2020
Posted by Bunmi Mercy 3 years agoTax DiscussionHere are a few things to note about The Finance Act of 2020: 1. If you are a low income earner on N30K per month or less you are now exempted from personal income tax based on the new finance Act. S ...
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Tutorial: How To Use FIRS TaxPro MAX To File WHT, VAT And CIT
Posted by Kemisola 3 years agoTax DiscussionThe Federal Inland Revenue Service (FIRS) recently introduced a Tax Administration Solution (TaxPro-Max) for the ease of Tax compliance. TaxPro-Max enables seamless registration filing payment of ...
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VAT collection: FIRS files appeal against court verdict
Posted by Iheonu Nkechi Gloria 3 years agoTax DiscussionThe Federal Inland Revenue Service (FIRS) has appealed a recent judgment of the Federal High Court in Port Harcourt Rivers State on the collection of Value Added Tax (VAT). The FIRS said this in a ...
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VP Osinbajo: Multiple taxation causing high mortality rate of SMEs in Nigeria
Posted by Iheonu Nkechi Gloria 3 years agoTax DiscussionVice-President Yemi Osinbajo says many small and medium-sized enterprises (SMEs) in Nigeria collapse due to the payment of multiple taxes. He said this on Monday in Abuja at the 1st Abuja SME Confere ...
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Withholding Tax; What Constitutes A Sale In The Ordinary Course Of Business?
Posted by Iheonu Nkechi Gloria 3 years agoTax DiscussionThe Withholding Tax (WHT) is not another form of tax rather an advance payment of income tax on specific transactions. Generally when such transactions are executed the person or company making pa ...
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Loss relief
Posted by Bunmi Mercy 4 years agoTax DiscussionLoss relief according to the Nigerian Tax Law (S. 31(2)(a) of the CITA CAP. C21. LFN 2004 (As amended)) is an amount of loss that is allowed by the revenue service having satisfied that such loss was ...
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