It would seem attractive, and much tempting indeed to enter into transactions and even formal contracts in Nigeria with the pricing/payment term in United States Dollars, British Pound Sterling, and other popular foreign currencies. Some technical services, employment contracts, and credit transactions witness this. But how safe are such agreements? Section 20(1) of…
The law creating the 0.005% Nigerian Police Trust Fund Levy is roundly criticized for heightening the tax burden of doing business in Nigeria, but the real compliance issues lie in its vagueness on who is liable to pay and what should be paid. The Nigeria Police Trust Fund (Establishment) Act was signed into law…
INTRODUCTION Before the enactment of the Nigerian Finance Act, 2019, Section 19 of the Companies Income Tax Act (CITA)providing for excess dividend tax could pass for the most controversial and criticized provision of CITA. Its criticisms transcended what was perceived as legislative ineptitude to what got bemoaned as judicial insensitivity, as interpretations of that section…