obitaxanswer

Other benefits of applying for pioneer certificate (apart from income tax exemption) are stated below. -Deduction of  loss during pioneer from profit after pioneer period. -Deduction of Fixed asset incurred during pioneer period after pioneer period. -Dividend paid out from pioneer period are tax exempt whether paid out within and after pioneer period. For more information call +234-080 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) 2016-Obi Azubuike

The regulation provides that an applicant for a pioneer status incentives must -be a body corporate registered in Nigeria. -have incurred capital expenditure of not less than N10 Million Others include -Payment of non refundable fee of N200,000 -Service charge of  2% of estimated tax savings(savings as a result of tax exemption). 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

Some industries that qualifies for pioneer Status( to be granted tax relief for 3 years and additional 2 years) after meeting some specified requirements are as below. -Oil palm/rubber plantation and processing. -Manufacture of Pharmaceuticals. -Iron & Steel from Ore -Gas Cylinder. -Maintenance of aircrafts. -Manufacture of glass , Ceramics & marbles. -Integrated dairy production. -Manufactures of Electrical  appliances/Equipment. -Manufactures of computer chips/photographic products. -Gas & gas distribution. -Local fabrication of machinery equipment. -Cattle/piggery ranching. 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

Getting a good tax planner can mean a lot when it comes to personal income tax. There is always a legal 'loopholes' in any tax law. Some are created by Government to boost investment and to encourage savings. Hiring a good tax expert can impact on your personal income tax. 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

Foreign operations include the use of branch office, subsidiary and investment in foreign company. The method used can significantly impact  on the tax liability of the investing company. 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) 2015-Obi Azubuike

Imported goods are liable to vat except for items exempted by the VAT act. 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

Deferring tax payment in an inflationary period can be beneficial when there is  no legal restriction to do so. Moreover the tax payer pay less in terms of  real value thereby reducing the overall tax cost.     Contact us on further tax issue :+234-806-7922-530, obiazubike2@gmail.com     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) 2015-Obi Azubuike