Nigeria: Notice for taxation of investment income gained by pioneer companies

15 October, 2014

The Federal Inland Revenue Services (FIRS) in Nigeria has issued a clarification notice regarding the taxation of investment income in the nature of dividends, interest, royalties, and rent earned by pioneer companies is subject to 10% withholding tax on 29 September 2014. Based on the notice, the exemption status for the parent company is only applicable for the purpose of business profits.

Africa & Middle East

Nigeria

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Nigeria proposes new tax incentives for oil and gas industry

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