Further to the measures announced by the Coordinating Minister of the Economy and Honourable Minister of Finance (CME) Dr. Ngozi Okonjo-Iweala, CFR on December 3, 2012, to resuscitate the Nigerian Capital Market, The Exchange is pleased to learn that the VAT exemption is now effective on all commissions applicable to capital market transactions.
To encourage further and continuing investments, various Tax Incentives and Tax Capital or Expenditure Allowances are embedded in the Statute Books waiting to be taken advantage of by businesses. Some of these investment incentives and expenditure allowances are succinctly highlighted in the following paragraphs.
Double Taxation Agreement is not meant to give the tax which is due to one country to another but to ensure [that] the same income is not taxed by two different countries. - Honourable Justice Saliu Saidu in Saipem vs FIRS.
Pelican are birds that inhabit the coastlines of Florida, Louisiana, and the Gulf of Mexico, and they feed their little chicks by breaking down the food with beaks, even when the adult pelicans are hungry. Likened to a corporation, United States Fifth Ci
In his 1986 address to the White House Conference on Small Business, former American President - Ronald Reagan said, “the government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And
To provide additional leverage to The Exchange’s drive towards having a dynamic and robust capital market regulatory regime; as well as maintaining its zero-tolerance policy, The Nigerian Stock Exchange has designed an effective whistle blowing program ta
On Thursday, February 20, 2014, the Presidency announced the suspension of the Governor of the Central Bank of Nigeria, Mr. Sanusi Lamido Sanusi, for what was described as financial recklessness in the management of apex bank. Few hours later, a detailed
Notwithstanding the decision in TSKJ II CONSTRUCES INTERNACIONALS UNIPESSOAL LDA vs FEDERAL INLAND REVENUE SERVICE (FIRS), Abuja Federal High Court, Suit No. FHC/ABJ/TA/11/12, the decision in Standard Trust Bank Plc v- Chief Emmanuel Olusola (2007) 9 CLR