Introduction The Federal Government of Nigeria, under the leadership of President Bola Tinubu, has recently introduced the Expatriate Employment Levy (EEL) through the Nigerian Immigration Service. Launched on February 27, 2024, and effective as of March 15, 2024, the EEL imposes a mandatory levy on companies engaging expatriate workers in
Why is CIT administration important? For one, it ensures that all resident & non-resident companies comply with relevant tax laws & the applicable taxes assessed are collected and used in the country’s development. What is involved in CIT Administration? Companies Income Tax administration involves tax filing & assessment, collection &
Background In the wake of a series of gross corporate abuses around the turn of the 21st century, the United States Congress passed Sarbanes-Oxley Act, which intended to make corporate governance more rigorous, financial reporting more transparent, and management criminally liable for lapses. The first year of implementation was costly
Prior to the enactment of Companies and Allied Matters Act (CAMA) 2020, the old legislation made provisions only for general partnerships. This type of partnership permits individuals to enter into partnership agreements which can be registered under part B of CAMA as a business name. Professionals have long used this