Companies Income Tax (Amendment) Act 2007

Companies Income Tax (Amendment) Act 2007

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...

Value Added Tax (Amendment) Act 2007

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...
The Nigerian Companies Income Tax Act

The Nigerian Companies Income Tax Act

About the Law This law makes provisions for the taxation of companies in Nigeria. Some key provisions Imposition of tax on profits of companies derived from trade, business, rent, premium, dividends, royalties etc process for ascertaining the taxing of authorised unit...
How to register for VAT in Nigeria

How to register for VAT in Nigeria

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...
Personal Income Tax in Nigeria

Personal Income Tax in Nigeria

What is Personal Income Tax? Personal Income Tax is a direct tax charged on the income of a person. In the context of personal income tax, a ‘person’ means an individual, a sole proprietorship (non-juristic person), communities and families and on...
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