Live Breaking News & Updates on Industrial Development Income Tax Relief

Stay updated with breaking news from Industrial development income tax relief. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.

Finance Act 2020: Highlights Of Latest Developments In Nigeria's Tax Regime - Tax

A. OVERVIEW
President Muhammadu Buhari signed the Finance Act 2020 into law
on December 31, 2020. The new legislation followed hot on the heels
of the Finance Act 2019
1 which amended several tax
statutes. The Finance Act 2020 was enacted in furtherance of the
Federal Government s progressive reform of the business climate
in Nigeria, and the need to constantly restructure the tax system
to align and conform same with international best practices, and
make it respond effectively to the changing socio-economic
landscape.
Specifically, the Finance Act 2020 amended fourteen (14)
principal tax and tax-related legislation. The thrust of the
legislation includes boosting government revenue, preventing base
erosion, streamlining areas of regulatory conflict and clarifying ....

Abuja Federal Capital Territory , Muhammadu Buhari , Revenue Service , Revenue Service Establishment , National Assembly , Funds Trust Fund , Central Bank , Petroleum Profits Tax , Companies Income , Debt Management Office , Unclaimed Funds Trust Fund , Exchange Commission , V Companies Income Tax Act , Revenue Fund , Crisis Intervention Fund , Tertiary Education Trust Fund Act , Industrial Development Income Tax Relief , Finance Act , Federal Government , Funds Trust , Crisis Intervention , Appropriation Act , Responsibility Act , Federal Republic , Unclaimed Funds Trust , Governing Council ,

Finance Bill 2021; Proposed Changes To The Companies' Income Tax Act - Tax

To print this article, all you need is to be registered or login on Mondaq.com.
In this article, we review the significant changes being
proposed to the Companies Income Tax Act (CITA) and its likely
impact on companies.
On Thursday 8 October 2020, His excellency, President Muhammadu
Buhari presented the 2021 Budget Proposals to the Joint session of
the National Assembly. The 2021 Budget Proposal was themed
Nigeria s Budget of Economic Recovery &
Resilience . The key budget assumptions are as follows:
benchmark oil price set at US$40 per barrel; daily oil production
estimate of 1.86 million barrels; exchange rate of N379 to US$1,
projected GDP growth of 3% and inflation rate of 11.95%. Based on ....

Modification Of Tax Holiday For Agricultural Companies , Revenue Service , National Assembly , Software As Qualifying Capital Expenditure , President Companies , Crisis Intervention Fund , Petroleum Profit Tax , Small Companies , Industrial Development Income Tax Relief , Companie Income Tax Act , President Muhammadu , Economic Recovery , Finance Bill , Federal Government , Minimum Tax , Finance Act , Tax Holiday , Industrial Development , Income Tax Relief , Intervention Fund , State Government , Downstream Operations , Inaccurate Self Assessment , Federal Inland Revenue Service , Allied Matters Act , Qualifying Capital ,

2021 Budget, Economic Recovery and Fiscal Sustainability

The early passage of 2021 Budget, which for the second consecutive year, effectively returns the country to the January-December budget cycle is a means to an end and not an end itself. The main challenge is how to catalyse economic recovery efforts, and budget execution to significantly contribute towards achieving fiscal sustainability as well as macro-fiscal and sectoral objectives. Ndubuisi Francis writes
It is an unassailable fact that Nigeria is buffeted by a deepening macroeconomic challenges, a worsening social and fiscal order. While the economic challenges grow in leaps and bounds, the resources to tackle them appear to be wearing thin. Nigeria’s second quarter 2020 gross domestic product (GDP) contracted by 6.1 per cent although it performed considerably betterthan expected in the third quarter, contracting only by 3.62 per cent, representing an improvement of 2.48 per cent points over the second quarter level. ....

Uche Uwaleke , Ndubuisi Francis , Zainab Ahmed , Muhammadu Buhari , Revenue Service , National Assembly , Revenue Service Establishment Act No , National Planning , Abundant Nigeria Renewal Party , Companies Income Tax , World Bank , Debt Management Office , Revenue Fund , Crisis Intervention Fund , Energy Information Administration , Organisation Of Petroleum Exporting Countries , Nigeria Customs Service , Tertiary Education Trust Fund Establishment Act No , Industrial Development Income Tax Relief , Value Added Tax , Information Administration , Petroleum Exporting Countries , Statutory Transfers , Federal Budget , Federation Accounts , Government Owned Enterprises ,

Lafarge, Jabi Mall, Grand Pela, 31 other firms enjoying tax holiday in Nigeria (FULL LIST)

Lafarge, Jabi Mall, Grand Pela, 31 other firms enjoying tax holiday in Nigeria (FULL LIST)
The Pioneer Status Incentive grants a tax holiday for companies working in industries considered not sufficiently developed enough in Nigeria but with favourable prospects.
The federal government gives companies in critical sectors of the economy tax holiday, also known as the Pioneer Status Incentive, to encourage and attract investment into sectors that could significantly impact development and deliver key benefits to the country.
The incentive, provided under the Industrial Development Income Tax Relief Act, is essentially a tax holiday that grants benefitting firms relief from the payment of corporate income tax for an initial period of three years, extendable for one or two additional years. ....

Kwara State , Oyo State , Ogun State , Edo State , Kaduna State , Kogi State , Nigeria General , Lagos State , Kebbi State , Rivers State , Delta State , Adegbite Olumide , Enelamah Enyinna , Adeyeye Daniel , Edward Mc Donald , Chimaobi Madukwe , Stephen Naude , Maruf Ahmed , Idahosa Okunbo , Ademola Adesina , Jerome Shogbon , Uzodinma Iweala , Anurag Shulkla , Awofisayo Isaac , Adegbite Michael , Inuwa Obiageli ,

Nigeria: Lafarge, Jabi Mall, Grand Pela, 31 Other Firms Enjoying Tax Holiday in Nigeria (Full List)

Nigeria: Lafarge, Jabi Mall, Grand Pela, 31 Other Firms Enjoying Tax Holiday in Nigeria (Full List)
allafrica.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from allafrica.com Daily Mail and Mail on Sunday newspapers.

Kwara State , Oyo State , Ogun State , Edo State , Kaduna State , Kogi State , Nigeria General , Lagos State , Kebbi State , Rivers State , Delta State , Adegbite Olumide , Enelamah Enyinna , Adeyeye Daniel , Edward Mc Donald , Chimaobi Madukwe , Stephen Naude , Maruf Ahmed , Idahosa Okunbo , Ademola Adesina , Jerome Shogbon , Uzodinma Iweala , Anurag Shulkla , Awofisayo Isaac , Adegbite Michael , Inuwa Obiageli ,