INTRODUCTION Pursuant to section 12(2)(a) of the NITDA Act (National Information Technology Development), companies and enterprises enumerated in the Third Schedule and having turnover of #100,000,000 and above are liable to pay a levy of 1% of their Profit before Tax (PBT), in the relevant accounting year. The Third Schedule provides; – Businesses which section12(2)(a) […]
Decided Court Case Between Harbour Edge Investment Company Ltd Vs Federal Inland Revenue Service (FIRS)
Facts You Need To Know Introduction Section 66 of the CITA provides: “If the Service discovers or is of the opinion at any time that any company liable to tax has not been assessed or has been assessed at a lesser amount than that which ought to have been charged, the Service may, within the […]
This articles aims to explore the highlights of the 2022 Finance Bill and how it will influence the future of taxation in Nigeria.