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Finance Act 2019

Government’s objectives for the Act are: ▪ Reformation of Nigeria’s tax law to align with global best practices; ▪ To support MSMEs through the ease of doing business initiative; ▪ Encouraging investments in infrastructure and capital markets; and ▪ Raising government...

The Excess Dividend Tax Conundrum

In 2013, Actis Africa (Nigeria) Limited (“the Appellant”) made profits and retained some of its earnings (after tax had been paid on the profits made). In contrast, no profits were made in the subsequent year, that is, 2014, as a result, no income tax was paid by the...