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.
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Nigeria: Preparing for transfer pricing audit
Nigeria: Preparing for transfer pricing audit
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