RULE OF RESIDENT IN NIGERIA

 

. STATE THE PERSONS WHO ARE THE SUBJECT OF NIGERIAN INCOME TAX LAWS

RESIDENT ARE SUBJECT TO TAX IN NIGERIA

 

COMPANY

 

-A company is a residence once incorporated in Nigeria.

This means that their global income is subject to tax in Nigeria


Definition of residency individual

An individual is said to be resident in a particular year of assessment if he

1.       Is domiciled in Nigeria

2.       Sojourn in  Nigeria for a  period  or periods in all  amounting to 183 days or more in a 12 month period

3.       Serves as a diplomatic agent of Nigeria in a country other than Nigeria


 SEE MORE 

 Disclaimer: Obi Azubuike is not by this publication acting as a professional advisers and therefore not liable to any  damage whatsoever for your acting or refraining to act based on  this publication. Consult your professional for advice. 


copyright(c) 2016-Obi Azubuike

-

Comments

Post a Comment

Popular posts from this blog

TAX PLANNING TECHNIQUES IN TAX REPORTING

        Tax planning means legally arranging a person or corporate finance, business and tax affair in order to reduce tax burden. Note that ‘aggressive’ tax planning to the detriment of the government can be termed illegal. However the tax payer as a rational person will always try to minimize  his/ her tax liability.   T ax avoidance is legal while tax evasion is illegal.     REQUIREMENT FOR TAX PLANNERS   ·           Knowledge of tax laws (statutes, enactment, past and current case laws.)   ·           Financial management.   ·           Ability to apply  tax skills to client peculiar circumstance. ·           Understanding of client operating environment.    TECHNIQUES OF TAX REPORTING 1...
Read more

WHY BUSINESSES FAIL?

Do you know that more than 50 percent of businesses fail within few years of start up??? Below are some reasons why businesses fail. 1.lack of strategic business plan & innovation. 2.Lack of Management Strategy and skill. 3.Inability to manage cash flow risk. 4.Inability to manage regulatory and compliance risk. For more information call +234 (0)80 67922530 Disclaimer : Obi Azubuike is not by this publication acting as a professional advisers and therefore not liable to any  damage whatsoever for your acting or refraining to act based on  this publication. Consult your professional for advice.  copyright(c) 2017-Obi Azubuike
Read more

EDUCATION AND DEVELOPMENT (RESEARCH)

  EDUCATION AND DEVELOPMENT (RESEARCH)   Knowledge is power!!!!!!! Education and research is a way to find out “gold and diamond” God has embedded in the universe. Ignorance can lead to death. Just as ignorance about the law is not an excuse.   When the medical profession has not been developed some death has been attributed to witchcraft, gods and bad people.   Education empowers humans to do the abnormal. From civil engineering; art to medical sciences. Many Big and successful organization has embedded education and continuous development in their programme to empower people.   Education is a powerful tool. The best country in the world has the best educational system and research system. The best military system has the best educational and research system. Education involves research and which is a tool to find unknown fact or knowledge.   Education and development in form of research is only way to conquer the world. S...
Read more