Tax & Business Matters - Nigeria

Corporate bonds and short term government securities now tax free

You will recall that the Personal Income Tax (Amendment) Act 2011 exempts individuals from personal income tax on bonds issued by all levels of government and their agencies; and bonds issued by corporate and supra-nationals (such as the World Bank, Africa Development bank etc).

A new Order has been gazetted by the President to grant similar exemption to corporate investors but limited to 10 years from 2 January 2012.

Read my article (also published in today's Guardian Newspaper) and download copies of gazettes below.

Download Bonds tax exemption article

Download Bond exemption gazette

Download VAT (Exemption of Bonds and Short Term Government Securities) Order, 2011

July 2012 Tax Calendar

Companies with 31 December year-end date should have filed their 2012 corporate income tax returns by now. This is important as a matter of legal compliance and so are other taxes.  

Download tax calendar for July 2012 to assist with your tax filing obligations and payment deadlines.

Download Tax calendar_July 2012