Tax
From The Report: Nigeria 2012
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In conjunction with PwC, OBG explores the taxation system, examining Nigeria’s investor-friendly environment. OBG talks to Ken Igbokwe, Country Leader at PwC Nigeria.

Articles from this Chapter

Overview

Doing the sums: A look at the regulations governing taxation, reporting, economic zones and the stock exchange
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CORPORATE ENTITY REGULATIONS: Nigeria, like other nations, has rules and regulations governing the operation of corporate entities in the country. A foreign entity intending to do business in Nigeria is required by the Companies and Allied Matters Act (CAMA) to incorporate a Nigerian company for that purpose. Branch operations/offices of foreign companies are not allowed in Nigeria except in rare circumstances involving government projects, where a specific exemption allowing the establishment…

Analysis

On the horizon: Reforms linked to the National Tax Policy look set to continue
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In line with the National Tax Policy launched by the president in the second half of 2012, Nigeria continues to pursue various tax reforms which are geared towards achieving a business-friendly environment and a simplified tax administration. The National Tax Policy also serves as a reference point for future tax legislation and continuous improvement in tax administration. Below are some of the recent developments in the tax environment and the significant potential changes under consideration.…

Interview

OBG talks to Ken Igbokwe, Country Leader, PwC Nigeria
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Interview: Ken Igbokwe How would you rate the fiscal burden for corporations operating in Nigeria? KEN IGBOKWE: Tax rates for corporate entities in Nigeria are favourably comparable to similar developing countries in Africa and around the world. This means that the total tax borne by corporates is not unbearable, although it could be more competitive in some respects. Beyond the statutory tax rates there is an additional burden regarding hidden taxes, such as non-recoverable withholding tax on…