Tax Matters

Nigerian Bank Holding Companies are Taxable on Dividends by Prof. M.T. Abdulrazaq

Nigerian Banks have been declaring huge profits and it is expected that huge sums would be paid out as dividends. The question that needs to bother the bank holding companies is how the dividends received by them would be treated for tax purposes. In an explanatory note on the critical tax issues for the operation […]

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Current List of Items Exempted from VAT in Nigeria

Value Added Tax, VAT, is a kind of tax imposed on the supply of all goods and services. VAT is required to be deducted by a goods supplier or service provider on all sums payable as consideration. The Federal Executive Council on Wednesday, 11 September 2019, approved a 50% increase in the VAT rate applicable […]

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Tax Appeal Tribunal [Procedure] Rules 2010

FEDERAL INLAND REVENUE SERVICE (ESTABLISHMENT) ACT  (No. 13 of 2007) TAX APPEAL TRIBUNAL (PROCEDURE) RULES 2010   In EXERCISE of the powers conferred by paragraph 21 of the Fifth Schedule to the Federal Inland Revenue Service (Establishment) Act 2007, and such other powers enabling me in that behalf, I, OLUSEGUN O. AGANGA, Minister of Finance, Federal […]

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