Government’s bill whittles down tax load on insurance companies | The Guardian Nigeria News - Nigeria and World News

The Bill, though yet to be signed by President Muhammadu Buhari, deleted certain inhibitive rules for insurance companies, making it possible for the underwriters to carry forward losses indefinitely, as opposed to the four-year restriction currently in place.

Furthermore, “taxable investment income” would be limited to “income derived from the investment of shareholders’ funds”. Nonetheless, the Bill, when passed into law, would be a game-changer in ensuring the fair taxation of insurance companies. Originally, the CITA was meant to amend and simplify controversial aspects in its policy, instead it has made it more obscure particularly for the insurance sector.

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Beware of the company you keep | The Guardian Nigeria News - Nigeria and World NewsWhat most people don’t appreciate is the extent to which people influence you emotionally. This spans across every strata of your life and includes intimate relationships, friendships, colleagues and those you hang out with and family. Who we surrounds ourselves with impacts on us beyond our habits and behaviours. It physically affects the way we …
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