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Companies Income Tax

25 Jun
A total sum of N680.783 billion May 2022 Federation Account Revenue has been shared to the Federal Government, states and local councils by the Federation Account Allocation Committee (FAAC).
17 Nov 2021
The Federal Government, States and Local Government Councils (LGCs) on Wednesday, shared N671.910 billion as Federation Accounts Allocation Committee (FAAC) for October
2 Jun 2020
Corporate income tax statutes are primarily designed to subject the bottomline of businesses, rather than their topline, to taxes. To achieve this goal, rules are laid down under which companies are able to deduct qualifying..
30 Aug 2018
Federal, states and local governments on Thursday shared N714.8 billion revenue generated in July, the News Agency of Nigeria (NAN) reports. The figure indicated a decline of N107.1 billion when compared to what was generated in June. The Minister of Finance, Mrs Kemi Adeosun, while briefing newsmen in Abuja on the outcome of the monthly…
1 Sep 2016
Companies Income Tax (CIT) is tax on the profits of incorporated entities in Nigeria. It also includes the tax on the profits of non-resident companies carrying on business in Nigeria.

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