WebTax Challenge!!! Withholding Tax (WHT)? Withholding Tax is basically an advance payment of income tax which may be used to offset or reduce tax liabilities… 69 comments on LinkedIn WebFeb 4, 2024 · The broader issue of the impact of the Act on Nigeria’s investment environment and the Ease of Doing Business has received little attention and analysis. However, this issue should also be on the front burner. ... dividends from retained earnings, franked investment income, pioneer profits, exempt profits and distributions from Real …
Nigeria Tax Summary - March 2012 updated
WebFeb 5, 2024 · franked investment income, for tax returns prepared and filed for any year of assessment falling between 1 January 2024 and 31 December 2024 (both dates … WebJul 13, 2024 · This circular substitutes the FIRS Information Circular "2024/07" of 29th April 2024. and now clarifies the criteria for tax exemption of dividend and rental income earned by a real estate investment company (REIC), qualification of distributions to REICs as franked investment income and the applicability or otherwise of the excess dividend tax ... plumbers christchurch reviews
Franked Investment Income - Revenue
WebUAC of Nigeria Plc (UAC) is a pure holding company (holdco), i.e it does not carry out operating activities, but earns investment ... Tribunal upholds FIRS’ Excess Dividends Tax assessment on Franked Investment Income Subject: On 8 November 2024, the Tax Appeal Tribunal (TAT) issued a judgment in favour of the Federal Inland Revenue … WebAug 19, 2024 · Excess dividends tax to apply to only untaxed distribution other than profits specifically exempted from tax and franked investment income under the provision of Section 19 of CITA. Minimum tax computation will now be based on 0.5 per cent of gross turnover alone. Companies with imported share capital of 25% are no longer exempted … WebAug 23, 2024 · In addition, section 80(3) of CITA stipulates that such dividends should be treated as franked investment income, which is not subject to further tax as part of the profits of the company receiving the dividend. These tax provisions are very relevant to Nigerian holding companies which have minimal operations and also act as intermediary ... princeville hawaii weather averages