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March 26, 2018

Capital Reconstruction: NSE Halts Trading in Prestige Assurance Shares

Leave a Comment / Accounting, Nigerian Tax, Tax / By

The Nigerian Stock Exchange (NSE) last Friday placed the shares of Prestige Assurance Plc on full suspension  to enable the Company’s Registrars update  the register of shareholders for the planned share capital reconstruction of the company. This implies that there will not be trading in the shares of the insurance firm for now. Prestige Assurance had last year made an …

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‘Nigeria’s tax: GDP ratio remains one of the poorest in Africa’

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Financial experts have lamented the country’s tax to GDP ratio, describing it as one of the poorest in Africa. The figure, which stands at just 6 per cent is significantly lower than Ghana and Egypt at 16 percent, Morocco at 22 percent and South Africa at 27 percent. This was revealed at the tax conference, …

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Nigerian startups older than 18 months have till March 31 to file tax returns, or else

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Barring any extension, the Voluntary Asset and Income Declaration Scheme (VAIDS) will come to an end on March 31, 2018. VAIDS, an initiative by the Federal Government to allow Nigerians regularise their tax status, started back in July 2017. It is believed that the scheme will give the government access to a sustainable revenue source …

Nigerian startups older than 18 months have till March 31 to file tax returns, or else Read More »

Government receives N3.532 trillion as taxes, royalties

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The Federal Government received N3.532 trillion as Petroleum Profits Tax and Royalties from oil companies between the third quarter of 2015 to third quarter of 2017, data from the Central Bank of Nigeria (CBN) has revealed. Besides, oil producing states in Nigeria received N103.46 billion as 13 per cent Derivation Fund during the third quarter …

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