Tax & Business Matters - Nigeria

2017 Tax & Fiscal Policy Prospects

"It is counter-intuitive that many politicians play politics with revenue generation by placing political considerations ahead of professionalism. Many lawmakers, administrators and policymakers lack proper understanding of the tax system. This coupled with undue political interference and vested interests mean that tax revenue will continue to be disappointingly low." - Taiwo Oyedele

Check out my article today on pg 33, Guardian Newspaper on what to expect in Fiscal 2017. Also provided below is a link to my 2016 predictions which turned out almost entirely as predicted.  

Download 2017 Tax Predictions_Guardian 23 Jan 2017 or use link for online version 2017 Tax Predictions

Check out 2016 Predictions

Impact of import tariff reduction on the economy

The Federal Government of Nigeria recently approved the 2016 Fiscal Policy Measures which allow the implementation of the Supplementary Protection Measures and the ECOWAS Common External Tariff (CET) 2015-2019.

A key feature of this implementation plan is a reduction of import duty rates on specific items on the national list, aimed at promoting the development of sectors deemed critical to the economy.

Read our economic alert below for more and download the new import tariff schedule.

Download PwC_Nigeria Economic Alert_January 2017

Download NEW_IMPORT_TARIFF_Oct 2016

Also watch my recent interview on Channels TV discussing the subject:

Part1 https://www.youtube.com/watch?v=iT9BJFeabgs
Part2 https://www.youtube.com/watch?v=JohM2NXvpcg

2016 in retrospect: A review of the major tax events of the year

Here is a quick round-up in case you missed any major tax event in 2016.

"Generally, tax authorities across the country became more aggressive with revenue drive including the use of consultants and unconventional methods for tax audits. Business premises of alleged tax defaulters were sealed up with visible non-compliance stickers posted in some cases. Tax prosecution units were set up to prosecute defaulters including holding principal officers personally liable."

Read my article published today on page 33 of the Guardian Newspaper for more.

Download 2016 in restrospect_Guardian 11Jan2017

Download 2016 in retrospect_PwC Tax Review