MTN Nigeria, on Friday, admitted to a technical disagreement between it and the Federal Inland Revenue Service on how the 2015 fine should be treated for tax purposes. Mr Onome Okwah, Manager, Public Relations and Protocol, Corporate Affairs/Corporate Relations, MTN, disclosed this in a statement in Lagos. According to him, the organisation’s attention has been […]
HMRC plans to introduce new rules for taxpayers and intermediaries on cross-border tax planning, and which might affect British residents’ who buy overseas properties. Thinking of buying a holiday home in the Dordogne? The taxman needs to know HMRC plans to introduce new rules for taxpayers and intermediaries on cross-border tax planning, and which might
Many stakeholders in the Nigerian maritime industry are worried about the import tax imposed on new vessels. They say this may put them at a competitive disadvantage among other African countries in a free market. A former Director General of the Nigerian Maritime Administration and Safety Agency, Mfon Usoro, observes that whereas aircraft brought into
Operators worry over vessel import tax, competition Read More »
In less than a week after the reinstatement of Value-Added Tax (VAT) collection on stock market transactions in Nigeria, reports have shown that investors could pay as much as N2.5 billion yearly in additional costs on trading. The five-year VAT exemption on stock exchange transactions expired on July 24, 2019. Thus, investors and dealing members
VAT payment takes it toll on stock market transactions in Nigeria Read More »
HMRC’s attempts to claw back taxes from people who used tax-planning schemes that they thought were legal have caused “widespread anxiety and distrust”, MPs have warned. MPs have previously claimed that the “loan charge” introduced to recover taxes on income that had effectively been disguised as loans has driven several people to take their own
HMRC tax crackdown that ‘drove people to suicide’ criticised by MPs Read More »
The Association of Issuing Houses of Nigeria (AIHN) has called on the federal government to extend the exemption of Value Added Tax (VAT) on capital market transactions which expired recently. This is even as the association announced that its 2019 annual general meeting (AGM) and second edition of its annual dinner and award night will
AIHN Urges FG to Renew VAT Exemption Grant on Capital Market Read More »
Over the last 12 to 18 months, Sub-Saharan Africa (SSA) has emerged one of the fastest growing financial technology (Fintech) hubs in the world in terms of investments, albeit from a low base. Investment in African fintechs nearly quadrupled in 2018 to $357 million, with startups in Kenya, Nigeria and South Africa accounting for the
Account: Investments in Fintechs in Nigeria, SSA hit $357 million Read More »
The Ministry of Finance has confirmed that it is continuing to implement Value Added Tax in compliance with the GCC Unified Agreement, which requires its implementation by all GCC members. The ministry said in a statement, “The government is working on completing the legislative procedures to issue the VAT law, pointing out that the General
France has approved a digital services tax despite threats of retaliation by the U.S., which targets American tech giants. The 3 percent levy will apply to revenue from digital services earned in France by firms with over $845 million worldwide. U.S. President Donald Trump ordered an investigation into the tax, a step that could lead
French parliament approves tax on digital tech giants Read More »
Rauf Aregbesola, a former governor of Osun state, has revealed his plans for rich Nigeria if he eventually becomes a minster – Aregbesola, speaking at the Senate screening as a ministerial nominee on Monday, July 29, said that he will impose heavy taxes on wealthy citizens in the country. The former Osun governor said that
Aregbesola vows impose heavy taxes rich Nigerians minister Read More »
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