TOP STORY: Deductions on life insurance, 10% tax on digital assets… highlights of 2023 finance act | TheCable
The finance act also stipulates that the deduction of capital losses on assets for capital gains tax purposes, may be carried forward for a maximum of five years.
oil companies to give necessary documentation of business transactions for tax filing, and failure to do so would attract a fine.According to the act, every company engaged in petroleum operations shall, “for each accounting period of the company, make up accounts of its profits or losses and prepare the major particulars to determine petroleum profits tax”.
It noted that any portion of the deferred annuity that is withdrawn before the end of five years from the date the premium was paid, shall be subject to tax at the point of withdrawal.The finance act also imposed a 0.5 percent levy on goods imported into Nigeria from outside Africa.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Deductions on life insurance, 10% tax on digital assets… highlights of 2023 finance act | TheCableSustaining the steam in its efforts to ramp up revenue generation, the federal government has introduced some changes in taxes and excise duties following the amendment of the new 2023 finance act.
Read more »
Nigerian govt. charges top politician for alleged vote buying during 2023 electionsThe federal government is accusing Mr Adebutu of criminal conspiracy, bribery and undue influence during the 2023 elections
Read more »
2023 AFCON Qualifier: Sierra Leone coach unveils squad for Super Eagles clashSierra Leone head coach, John Keister has announced a 38-man provisional squad for the 2023 Africa Cup of Nations qualifying clash against the Super
Read more »
2023 Hajj: Nigerian Envoy Applauds NAHCONThe Nigerian envoy made the remark when he breezed into the central coordinating committee meeting of NAHCON at the Hajj House, saying he was encouraged by
Read more »
Nigeria’s total trade improves in Q1 2023 - NBSThis is according to the NBS Foreign Trade in Goods Statistics Report for Q1 2023 released in Abuja on Tuesday.
Read more »
2023 AFCON Qualifier: Sierra Leone coach unveils 38-man provisional squad for Super Eagles ClashSome of the notable names in Sierra Leone’s provisional squad include England-based defender Steven Caulker, Kamil Conteh, Alhaji Kamara...
Read more »