Taxes are often seen as a burden… but what if they are actually tools for nation-building? Companies in Nigeria now contribute 4%…
Here are the key things every Nigerian should know: Small Businesses Pay 0% Company Tax If a business is classified as a…
“Understanding money rules is the first step to financial power.” Many people complain about taxes, but the truth is that knowing how taxes…
One of the most significant modern provisions in the law concerns indirect transfers. Nigeria may tax gains where: 1. A non-resident disposes of…
Gifts Where an asset is disposed of by way of gift (without consideration), gains may not be chargeable in certain circumstances. However,…
Key Capital Gains Tax Exemptions Every Nigerian Should Know The law provides important exemptions. Shares in Nigerian Companies Gains are exempt if: Total…
Capital Gains Tax is not charged on total proceeds. It is charged on net gains. The computation formula is: Disposal Proceeds minus Acquisition…
In tax law, disposal does not only mean selling. A disposal occurs when value is derived from an asset through: Sale Lease Assignment…
Most Nigerians associate tax strictly with salary (PAYE). However, one of the most misunderstood areas of taxation in Nigeria is Capital Gains Tax…
Personal income tax is calculated by adding all income earned in the year, including business profit, salary, investment income, capital gains, and…