Tax & Business Matters - Nigeria

Local content guidelines introduced for the Information and Communications Technology (ICT) sector

The National Information Technology Development Agency (NITDA) recently released guidelines on Nigerian content development in the ICT sector.

In our alert attached below, we analyse how NITDA intends to achieve a target of 50% local content in the industry, the tax incentives introduced and the possible impacts of the guidelines on different stakeholders in the industry.

Download PwC Alert_ICT local content guidelines

New judgement on the taxation of non resident companies in Nigerian

In the attached newsalert, we analyse a recent judgment by the Federal High Court regarding the taxation of transactions with non-residents, specifically withholding tax/corporate income tax and VAT.

If the judgment is sustained, it will have significant negative consequences on cross-border transactions.

Download PwC Tax Alert - FHC decision on tax on non-resident companies

Are private companies subject to oversight by the Financial Reporting Council?

In case you are wondering or have recently been asked to file returns with the Financial Reporting Council of Nigeria (FRCN), here is our regulatory alert on a recent judgement by the Federal High Court on the subject.

The Federal High Court (“FHC”) on 21 March 2014 ruled in a case between Eko Hotels Limited and the FRCN. The FHC decided that under the FRCN Act, the FRCN cannot enlarge its regulatory powers to regulate private companies.

Download FRCN restricted from regulating private companies

World Economic Forum: How to use taxation as a catalyst for inclusive growth and employment generation

Following my participation at the recently concluded World Economic Forum on Africa, I have articulated my thoughts on how taxation can be used as an enabler to forge inclusive growth and create employment.

You may find my attached article published by the Guardian Newspaper of interest.

Download WEF and Tax

 

Being distinctive

PwC has been awarded the most innovative & impactful professional services firm in Nigeria by the Lagos Chamber of Commerce & Industry. Thanks to you and all our clients for making this possible.

I thought to share with you my recent interview with BusinessDay on Nigeria's rebased GDP and the tax implications.

Download Taiwo's interview with BusinessDay on rebased GDP

Helping You Navigate Africa's VAT Landscape

It is true that Africa is rising, which is good. It is also true that the tax system across Africa is becoming more complex, which is not so good. Whether good or bad every responsible organisation knows that full compliance with the law in every jurisdiction is non negotiable.

You will find our new publication on VAT in Africa very useful especially if you do business cross-border within the continent.

VAT in Africa

 

May 2014 Tax Calendar

It's a new month and again a new cycle of tax compliance with various tax payment deadlines. To assist you keep an eye on your tax affairs while focusing on your business, I attach below our May 2014 tax calendar for your use.

Download Tax Calendar_May 2014