Tax Clearance Now Compulsory For Housing Transactions In Lagos. The Lagos State Government has mandated tax clearance for all housing transactions. To stop fraud and protect allottees, the Sanwo-Olu-led administration has made…
Category: Nigeria
Nigeria: Kano Market Unions Pocket Cattle Tax
Nigeria: Kano Market Unions Pocket Cattle Tax. Market unions in Kano state impose a ₦500 weekly levy on individual cattle but end up remitting nothing to the state government. Investigations have revealed…
213 Tax Waiver Applications in Nigeria Still Pending Five Years Later
213 Tax Waiver Applications in Nigeria Still Pending Five Years Later. The applications for tax waivers submitted by 213 companies pending for five years after the Nigerian Investment Promotion Commission received them….
Nigeria to Impose 50% Tax on Banks’ FX Gains Under Amended 2023 Finance Act
Nigeria to Impose 50% Tax on Banks’ FX Gains. In a move to bolster national infrastructure and public services, the federal government has proposed a 50% tax on profits realized by banks…
How to Prepare for a Tax Audit: Best Practices in Nigeria
How to Prepare for a Tax Audit: Best Practices in Nigeria. A tax audit is an examination of an organization’s or individual’s tax returns by tax authorities to verify that financial information…
Nigeria Temporarily Halts Taxes On Imported Food Items
Nigeria Temporarily Halts Taxes On Imported Food Items. The Nigerian government has temporarily halted the duties, tariffs and taxes on imported maize, husked brown rice, wheat and cowpeas — through land and…
Nigeria To Cancel Tariffs, Excise Duties, VAT on Imported Pharmaceutical Inputs
Nigeria To Cancel Tariffs, Excise Duties, VAT on Imported Pharmaceutical Inputs. The Federal Government has initiated the cancellation of tariffs, excise duties and Value-Added Tax (VAT) on imported pharmaceutical inputs. According to…
Private Jet Operators Held Accountable For Taxes In Nigeria
Private Jet Operators Held Accountable For Taxes In Nigeria. As part of efforts to root out imported aircraft that lack the necessary documentation to ensure proper imports and optimal revenue generation, the…
Nigeria’s NITDA Proposes 1% Tech Sector Tax
Nigeria’s NITDA Proposes 1% Tech Sector Tax. The National Information Technology Development Agency (NITDA) is pushing for a new bill to regulate Nigeria’s tech sector and levy a 1% tax on technology…
Nigeria Tax Remittance From Manufacturers Declines In Q1, 2024
Nigeria Tax Remittance From Manufacturers Declines In Q1, 2024. Nigeria has experienced a serious decrease in tax remittance from manufacturers in Q1, 2024. This is according to a recent report by the…