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2024 Regulations on Deduction at Source (Withholding Tax)

2024 Regulations on Deduction at Source (Withholding Tax)

The new circular on withholding tax issued by the Nigerian Minister of Finance outlines the rules for deducting tax from payments to taxable persons under various tax acts. Key highlights include reduced tax rates for eligible transactions and residents of treaty countries, a new tax

The Code of Corporate Governance for Not-for-Profit Organizations in Nigeria – Challenges, Opportunities, and Implementation Imperatives

The Code of Corporate Governance for Not-for-Profit Organizations in Nigeria – Challenges, Opportunities, and Implementation Imperatives

The Corporate Governance Code for Not-for-Profit Organizations (NPOs) in Nigeria aims to boost transparency and accountability through twelve key principles. However, implementing it faces challenges like resistance to change and resource constraints. Overcoming these hurdles requires tailored strategies, government support, and comprehensive training. Successful implementation

Major changes introduced by the 2019 Finance Act

Major changes introduced by the 2019 Finance Act

The Finance Act 2019 recently signed into law by the President of the Federal Republic of Nigeria came into effect on 1 February 2020. The Act introduced the much needed changes to Nigeria’s tax and fiscal laws for various strategic purposes, particularly to enable enough

Making Counts Count

Making Counts Count

It is that time of the year; when we want to establish how much inventory we would have as at the year-end. From raw materials, work-in-progress, parts and supplies and finished goods, counts would be done. It is however possible for stock count exercises to

Nigeria’s  Border Closure – Effects and Implications

Nigeria’s Border Closure – Effects and Implications

The recent closure of the Nigerian land borders by the Federal Government came as a shock to Nigerians and neighbouring countries. This temporary policy is said to be the first of many steps towards curbing the smuggling of goods, especially rice, and the illegal movement