Personal Income Tax

Tax and Regulatory Matters for Foreign Investors in Nigeria

TAX AND REGULATORY MATTERS A FOREIGN INVESTOR MUST AVERT HIS MIND IN NIGERIA by Ayoade Apelegan Nigeria is ranked 131st on the World Bank’s 2020 Doing Business index. The ease of doing business score shows an economy’s absolute position relative to the best regulatory performance. The implication of this is that foreigners are on the lookout to establish businesses in…

The Impact of Finance Act, 2019 on Businesses in Nigeria

THE IMPACT OF FINANCE ACT, 2019 ON BUSINESSES IN NIGERIA By Ayoade Apelegan The Finance Act is a fiscal policy statement, which shows how the Government intends to finance budgeted expenditure and achieve other socio-economic objectives. The Finance Bill 2019, which was submitted to the National Assembly by President Muhammadu Buhari alongside the 2020 Appropriation Bill, and signed into law…

Taxation of Unincorporated Businesses in Nigeria

Taxation of Unincorporated Businesses in Nigeria By Dare Onamakinde INTRODUCTION Unincorporated businesses are usually the sole proprietorship or the partnership business. They can be defined as a commercial enterprise that is privately owned by one person or more than one person(s), it has unlimited liability due to the fact that the business has not been formally registered as a company.…

TAX PLANNING & AVOIDANCE SCHEMES IN NIGERIA

TAX PLANNING & AVOIDANCE SCHEMES IN NIGERIA According to the Wikipedia, it describes tax by saying “tax (from the Latin taxo) is a compulsory financial charge or some other type of levy imposed upon a taxpayer (an individual or legal entity) by a governmental organization in order to fund various public expenditures”. A failure to pay, along with evasion of or resistance to taxation,…

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