WebIt was enabled by the Capital Gains Tax Act, Chapter 42, LFN 1990. The Capital Gains Tax is a 10% tax imposed on Capital Gains arising from a sale, exchange or other disposition of properties known as chargeable assets. #2 Companies Income Tax. The Companies Income Tax was enabled by the Companies Income Tax Act, Chapter 60, LFN 1990. WebSep 9, 2024 · COMPANIES INCOME TAX ACT ARRANGEMENT OF SECTIONS PART I [Repealed] PART 11 Imposition of tax and profits chargeable SECTION 9. Charge …
Federal Republic of Nigeria
WebIt is applicable to company income and personal income tax. It is imposed at the rates ranging from 2.5% to 10% for companies and 5% to 10% for individuals depending on the specific transaction. It is governed by both … WebS. 1. No. 9 of 2024 COMPANIES INCOME TAX ACT (CAP. cm, LAWS OF THE FEDERATION OF NIGERIA, 2004) COMPANIES INCOME TAX (SIGNIFICANT ECONOMIC PRESENCE) ORDER, 2024 [3rd February, 2024] In exercise of the powers conferred upon me by Section 13(4) of the Companies Income Tax Act (CITA) Cap. manga with love triangle
The tax implications of Finance Act 2024 TheCable
WebPersonal Income Tax Act (PITA) and Companies Income Tax Act (CITA), as the case may be. Based on PITA and CITA, due dates of filing returns are 3 months and 6 months, respectively, after the relevant accounting year-end. Comparing the existing and new provision, there may be conflicting due date of filing in many cases. WebFeb 24, 2024 · Any tax on income or profit is not deductible except where such tax was paid on profit earned outside Nigeria. In this case, if the source country has no DTT with Nigeria, the foreign tax paid is allowed as a deduction for CIT purposes. State and local taxes (business rates) and levies may be deducted from taxable income. WebDec 22, 2024 · Payment of minimum tax by loss-making companies or companies whose tax calculation show no tax payable; You can read the full provisions of the Act here – … manga with over 300 chapters