CAPITAL ALLOWANCE RESTRICTION IN NIGERIA
CAPITAL ALLOWANCE is allowance given by tax authority for 'fixed asset' used in the business . is used in replacement of depreciation. The rate is stipulated by law. Capital allowance is restricted to 2/3 of assessable profit for any year of assessment except for agricultural and manufacturing business. TCONCEPT PROFESSIONAL SERVICES is a firm that specialized in tax consulting and accounting. For more information see www.tconceptpro.com or call +234 (0)8067922530. Disclaimer : Obi Azubuike is not by this publication(or post) acting as a professional advisers and therefore not liable for any damage whatsoever for your acting or refraining to act based on this publication(post). Consult your professional for advice. Copyright(c)2018-Obi Azubuike