A company incorporated under the Companies and Allied Matters Act, cap C20 LFN 2004 is accorded a distinct legal personality from its members. Whilst such a company pays tax on all its taxable profits, each member or shareholder pays tax on whatever accrued to him/her by way of dividend. It must be noted however at […]
Nigeria’s economy will not collapse but continue to experience boom in spite of the International Monetary Fund’s (IMF), says the Federal Inland Revenue Service (FIRS). Chairman of the FIRS Babatunde Fowler stated this on Monday at the opening session of the 140th quarterly meeting of the Joint Tax Board. The IMF and World Bank had reported that any
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