Currently, all companies are expected to pay the Federal Government 30 per cent of their profit as Companies Income Tax.
“Their productivity will increase, they will employ more Nigerians and at the end of the day, they will grow to the level of a medium size business and begin to pay taxes. “We reduced the tax for medium size businesses from 30 per cent to 20 per cent so they can have more resources that they can plough back in their business.
2020(BOI)LOAN ATTENTION,THE FEDERAL GOVERNMENT HAVE COME TOGETHER WITH THE BOI(BANK OF INDUSTRY) TO ASSIST NIGERIAN CITIZENS ENTREPRENEURS TO START BUSINESS AND FOR EXPANSION OF BUSINESS WHO EVER THAT IS INTERESTED CAN CONTACT HON, ADAMS 09034957596 FOR MORE INFORMATION.
You can exempt Companies less than N25m but can't exempt workers earning less or about N30k minimum wage. There is God oooo!
To create enabling environment in Nigeria, a 10% tax is reasonable, not 20 or 30% if you trying to lift 100m from poverty. Even the 30% tax is absolutely anti productive consider the hash environment companies operates in Nigeria. You turning companies into slaves workers at 30%
Wow
No matter how hard firsNigeria try,FIRS workers at the bottom will still not allow things work. Why will private auditors be charging tax payers ridiculous amount for auditing? cenbank should work a way where tax will be deducted directly from company accounts per transaction
We appreciate MBuhari for this one but, we need more done. We need at least a stable power.
Auditors for hire will now have a field day, customizing major companies annual earnings.
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Source: Daily Trust - 🏆 13. / 51 Read more »