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How to calculate capital allowance in Nigeria

In our previous article, we discussed the theory of capital allowance in Nigeria. Now, we shall consider three (3) examples on how to calculate capital allowance in Nigeria.   Question 1: In January 2018, Company Bee bought plant and machinery for NGN 5,000,000.…

NSE to resume VAT on commissions in capital market

As a fiscal measure to encourage investment in the capital market, the Federal Government of Nigeria issued the VAT (Exemption of Commissions on Stock Exchange Transactions) Order, 2014 (Exemption Order) on 25 July 2014. The Exemption Order amended the First Schedule of the…

Nigeria Tax Highlights – June 2019

Welcome to BRC’s monthly series on Tax Highlights in Nigeria.  The month of June 2019 was filled with tax cases. Here are four (4) major events that shaped the Nigeria tax space in June 2019. Tax Appeal Tribunal affirms exemption of voluntary pension contribution.…

Nigeria signs African Continental Free Trade Area Agreement

One of the objectives of the African Continental Free Trade Area (AfCFTA) is to increase Africa’s trade in the international marketplace. Through a mutual agreement among member countries, Africa can create sound policies for trade negotiations with other continents. AfCFTA took effect on…