About the Law This Act amends the Companies Income Tax Act Cap.C21 LFN 2004. Some key provisions of the Law Dissolves the Federal Board of Inland Revenue Amendment of the process of appeal Amendment of some fines You may read the full provisions here...
About the Law This piece of legislation amends the Value Added Tax Act. Some key provisions include: Certain exempted goods and services are to be taxed at zero rate Provides for the distribution of revenue: Federal – 15%, State – 50%, Local Government...
What is VAT? Value Added Tax (VAT) is a tax imposed on the supply of goods and services. Under Nigerian law, the tax is charged at 7.5% of the value of the taxable goods and services. An illustration of this is if you sell shoes for N10, 000, the VAT chargeable on...
About the Law This Act was enacted to provide for the establishment for the establishment of the Federal Inland Revenue Service charged with powers of assessment, collection of, and accounting for revenues accruable to the Government of the Federation. Some key...
So you have come up with a great business idea, and you are itching to launch and make loads of money in Nigeria. You might think, to start with you do want to keep your startup costs low, and one of the ways you wish to do that is by registering a business name, and...