Personal Taxation 4 What are the new Personal Income Tax (PIT) brackets? Is compensation for loss of employment taxable? Is there any tax relief for individuals paying rent? How has the definition of a “resident” for tax purposes changed?
Business Taxation 7 How will the new law support small businesses? What are the new Company Income Tax (CIT) rates for larger companies? What is the new Development Levy? Who is affected by the 15% Minimum Effective Tax Rate (ETR)? What are the new tax rules for companies operating in Free Trade Zones? What are the Controlled Foreign Company (CFC) rules?
Capital & Investments 5 How is Capital Gains Tax (CGT) changing for companies? How is Capital Gains Tax (CGT) changing for individuals? Are there any exemptions for selling shares? Are indirect share transfers now taxable? Are there tax benefits for companies that merge?
VAT 5 Has the VAT rate changed? Is it easier to reclaim input VAT now? Is e-invoicing now mandatory? How will VAT revenue be shared between the tiers of government? What goods and services are zero-rated for VAT?
Sector-Specific Rules 5 What new incentives are available for the agricultural sector? How does the new Economic Development Incentive (EDI) differ from the old Pioneer Status Incentive (PSI)? How has the deduction for Research & Development (R&D) changed? What are the tax rates for the oil and gas sector under the new Hydrocarbon Tax (HT)? Are there specific incentives for gas development projects?
International & Enforcement 5 What are the “Force of Attraction” rules for non-resident companies? Is there a minimum tax for foreign companies earning income from Nigeria? What is the rule for deducting foreign exchange expenses? What are some of the new penalties for non-compliance? Is it now mandatory to disclose tax planning strategies?
Governance & Strategy 4 What is the role of the new Tax Ombuds Office? Are government-owned entities now required to pay tax? How will the success of these reforms be measured? What is the single biggest structural change in the reform?
Incentives & Deductions 4 Is there a tax benefit for increasing the wages of low-income workers? Is there an incentive for hiring new employees? Are there any changes to stamp duty on loans? What is the new surcharge on fossil fuels?
