Aegis LAW FIRM JOURNAL DOING BUSINESS IN NIGERIA- A GUIDE PART TWO

Size: px
Start display at page:

Download "Aegis LAW FIRM JOURNAL DOING BUSINESS IN NIGERIA- A GUIDE PART TWO"

Transcription

1 Aegis LAW FIRM JOURNAL DOING BUSINESS IN NIGERIA- A GUIDE PART TWO Introduction In the first part of the guide to doing business in Nigeria, we examined the relevant laws that businesses needs to be familiar with in Nigeria. The first part of our journal, Guide to Doing Business in Nigeria-Part One can be accessed at This second part of our series focuses on the major tax legislations in Nigeria. In this part, we examine the scope and extent of the relevant tax laws. The journal gives a synopsis of the relevant taxes. It does not claim to answer all the questions about taxation in Nigeria but merely seeks to give a guide to businesses in Nigeria. We begin our discussion by stating that Nigeria operates a Federal system of Government with three tiers of government-federal Government, State Governments and Local Government Councils. The taxing powers are divided among the three tiers of government. Item 58 and 59 of the Constitution of Nigeria, 1999 gives power to the National Assembly to legislate on taxation of stamp duties, incomes, profits and capital gains. The National Assembly has the power to legislate on tax matters that are administered by the Federal Government. In the exercise of the power of the National Assembly to legislate on stamp duties, capital gains, incomes or profit of persons, it may subject to such conditions as it may prescribe provide that the collection of such a tax be carried out by the State Government.

2 In the exercise of a House Assembly duty to impose tax or duty on any matter that it is empowered to legislate on, it may subject to such conditions as it may prescribe provide that the collection of such a tax shall be carried out by a local government council. A House of Assembly has the power to legislate on tax matters that are administered by the State Government. The Federal Government administers the tax under its jurisdiction through the Federal Inland Revenue Service while State Governments administers the tax under its jurisdiction through the States Board of Inland Revenue. The major tax legislations we would be considering are the: Companies Income Tax Act Personal Income Tax Act Petroleum Profits Tax Act Nigerian Oil and Gas Industry Content Development Act Education Tax Act Value Added Tax Act Capital Gains Tax Act Stamp Duties Act Withholding Tax Companies Income Tax Act The Companies Income Tax Act ( CITA ) prescribes the tax payable on the profits of a company accruing in, derived from, brought in, or received in Nigeria. Companies tax is paid by companies annually at the rate of 30% (Thirty percent). However, for companies with a turnover of less than 500,000 (Five Hundred Thousand Naira) and operating in agricultural production or mining of solid minerals, the tax rate falls to 20% (Twenty percent). Tax exemption is granted to pioneer companies for their first three years of operation, this can be further extended for two year period under the Industrial Development (Income Tax Relief) Act ( IDA ) Cap 17 LFN A company shall be designated a pioneer company if it engages in the businesses listed in the schedule to the IDA. Tax relief is also granted for import duties on raw materials

3 used in manufacturing exported goods. Companies that have invested in the Export Processing Zone, economically disadvantaged area and research and development also enjoy tax relief. Note that dividends paid in the form of bonus share or scrip share to individual shareholders of a company are not subject to tax. Subject to certain exceptions, minimum tax is imposed where a company has no taxable income in any year of assessment or the tax payable is less than the minimum tax provided for in CITA. Please note that Nigerian companies are taxed on their world wide income, foreign companies are taxed as regards the portion of their profit attributable to business operation in Nigeria. Where a company is a shareholder in another company, such dividends are excluded from the profits of the company for the purpose of computation of tax. A company can also get tax credits in proportion to its taxes paid abroad and vice versa as a result of the Double Taxation Agreement ratified between Nigeria and a number of countries. These agreements provide relief in relation to taxes imposed on profits taxable in Nigeria and also taxable by the laws of the country concerned. Personal Income Tax Act The Personal Income Tax is charged on the aggregate amount of an individual s, communities, families, trustees or estate income for an assessable year, from all sources inside and outside Nigeria. The Personal Income Tax is based on the employee s earnings i.e Pay as you Earn ( PAYE ) on the direct income or profits of individuals using the self assessment system. Employers are responsible for deducting and remitting tax deducted from salaries of their employees. An individual pays personal income tax in the State where he is resides, if on the 1 st day of January in the year of assessment, he has a place of residence in that state. For this purpose, a place of residence is defined as a place available for his domestic use in Nigeria on a relevant day, excluding hotels and rest houses. When the relevant tax authority is of the opinion that tax assessed on the income of a person for the three years immediately preceding the current year of

4 assessment has been fully paid or no tax is due on the income of the person, it shall issue a tax clearance certificate to the person. The Personal Income Tax Act was amended vide the Personal Income Tax (Amendment Act), One of the significant changes is the deletion of section 3(1)(b)(ii)-(xii) of the Act. The section provides employees with tax free allowances such as leave allowance, housing allowance etc. With the amendment, all tax free allowances previously enjoyed by employees were withdrawn with the exception of reimbursement of expenses incurred by an employee in the performance of his duties, and from which the employee is not expected to derive any profit or gain. Petroleum Profit Tax Act The Petroleum Profit Tax Act provides that there shall be imposed, charged on the profits of a company engaged in petroleum operations during the period in each accounting period. Petroleum operation is defined as the winning or obtaining and transportation of petroleum or chargeable oil in Nigeria by a company by any drilling, mining, extracting not including refining at a refinery. Thus all companies engaged in upstream petroleum activities are subjected to petroleum tax. The effect of the Act is varied by the various Memorandum of Understanding entered in to by the oil producing companies and the Federal Government. The tax charged on petroleum companies that have a Joint Venture Agreement or any Non-Production Sharing Contract with the Federal Government that is over 5 years in tenure is 85% (Eighty-Five percent). This is reduced to 65.75% for companies during their first 5 years of operation. For profits from petroleum operations under a Profit Sharing Contract with the Federal Government, the tax rate is 50% (Fifty percent). The holder of an Oil Prospecting License or an Oil Mining Lease pays royalty to the Federal Government as soon as it begins oil production. The Nigerian National Assembly is currently considering the Petroleum Industry Bill which seeks to amend the Petroleum Profit Tax Act.

5 Nigerian Oil and Gas Industry Content Development Act The Nigerian Oil and Gas Industry Content Development Act is popularly known as the local content law. The purpose of the law is to ensure the development and promotion of Nigerian content in the oil and gas industry. The Act imposes a levy of 1% (one percent) on every contract awarded to operators in the upstream oil and gas sector which shall be deducted at source. The monies so deducted shall be invested in a development fund. The fund shall be managed by the Nigerian Content Development and Monitoring Board and employed for projects, programmes and activities directed at increasing Nigerian content in the oil and gas industry. Education Tax Act All companies registered in Nigeria are required to pay 2% (two percent) of their assessable profit in any accounting year into an Education Tax Fund. It therefore means that a company not registered in Nigeria but doing business in Nigeria will not be subjected to an Education Tax. Education Tax Fund complements the government funding of tertiary education in Nigeria. The collected Education tax is used for the improvement of the standard of educational facilities at all institutions of higher learning in Nigeria. Value Added Tax Act The value added tax (VAT) is a consumption tax imposed and charged on goods and services except goods and services exempted by the Act. The goods and services exempted by the Act are listed in the first schedule to the Act. The VAT is computed at 5% for all goods and services. A taxable person shall within six months of commencement of business, register with the Federal Government and render a VAT return every month of the goods and services purchased or sold in the preceding month. Every contractor transacting business with the government shall produce evidence of registration of VAT as a condition for obtaining a contract. A non-resident company that carries on business in Nigeria shall register with the Federal Government using the address of the person to whom it has a subsisting contract. A non-resident company shall include the tax in its invoice and the

6 person to whom the goods and services are supplied in Nigeria shall remit the tax in the currency of the transaction. VAT paid on goods and services purchased by businesses are known as input tax while VAT on goods and services they supply are referred to as output tax. Where the output tax exceeds the input tax, the taxable person shall remit to Federal Government, the excess output tax collected. In a situation where the input tax exceeds the output tax, the taxable person shall be entitled to a refund of the excess input VAT. Capital Gains Tax Act The Capital Gains Tax is chargeable on the gains accruing to a person upon the disposal of an asset subject to the exceptions provided by the Act. The rate of tax chargeable by the Act is 10% (ten percent) of the chargeable gain derived from the disposal of the assets. In the computation of chargeable gain, the amount to be taxed is the difference between the cost of acquiring the assets and the sale price with deductions made for expenditure incurred in disposing the assets. The Capital Gains Tax in respect of companies is collected by the Federal Government while the Capital Gains Tax for individuals is collected by the State Government. Stamp Duties Act Stamp Duties are levied on instruments, agreements and legal documents. The Commissioner of stamp duties is responsible for the collection and administration of stamp duties. The document is stamped as evidence of the payment of stamp duties. The Federal Government is the competent authority to impose, charge, collect stamp duty in relation to instruments executed between a company and an individual, group or body of individuals. State Governments impose, charge, collect stamp duty in relation to instruments executed between individuals in a state on such rates to be imposed or agreed with the Federal Government.

7 A document that is not stamped would not be admitted in evidence in judicial or quasi-judicial proceedings. Withholding Tax Where there is a transaction in any specified activity or service and payment is due on the activity or service, the person making the payment is expected to deduct tax at the applicable rate and remit to the relevant tax authority. This should be done within 30 days after the deduction of the money by the party paying for the activity or service. The provision for withholding tax is contained in the Personal Income Tax Act, Companies Income Tax Act and Petroleum Profit Tax Act. Conclusion We have examined the major legislations on tax in Nigeria. There is a three-tiered division of taxing powers with different taxes being imposed, charged and administered by the respective levels of government. In some instances, the power to administer the Act is invested in the Federal Government but State Governments collect the taxes on behalf of the Federal Government. An example is the Personal Income Tax charged on individuals. Companies can also enjoy exceptions and relief from taxation. We have already examined some exemptions available to companies under the relevant legislations. For further details on applicability of tax to your business, exemptions and relief from certain types of tax, please consult your solicitor or a tax consultant. Contact Us Aegis Law Firm is a commercial law firm providing comprehensive legal services to a wide range of clients including but not limited to individuals, banks and financial institutions, oil and gas companies, telecommunications companies, maritime

8 companies, multinationals, government ministries and agencies. We are active in the area of litigation, arbitration, telecommunications, maritime, oil and gas, secured transactions, project finance, syndicated lending, security documentation, mergers and acquisitions, asset finance and general commercial practice. If you require further information, please contact: The Managing Partner Aegis Law Firm 95 Adetola Street Aguda Surulere Lagos Nigeria Tel: , Website: Disclaimer: This Journal was published by Aegis Law Firm. The Journal is not conclusive on the issues raised therein or is legal advice on the issues contained. Should you require clarification or further advice, please us at

EXPLANATORY NOTES ON THE CRITICAL TAX ISSUES FOR THE OPERATION OF BANK HOLDING COMPANY STRUCTURE IN NIGERIA

EXPLANATORY NOTES ON THE CRITICAL TAX ISSUES FOR THE OPERATION OF BANK HOLDING COMPANY STRUCTURE IN NIGERIA NIGERIA INFORMATION CIRCULAR Published: April, 2012 Subject: EXPLANATORY NOTES ON THE CRITICAL TAX ISSUES FOR THE OPERATION OF BANK HOLDING COMPANY STRUCTURE IN NIGERIA This circular is made to address

More information

TAX ADMINISTRATION LAWS AMENDMENT ACT

TAX ADMINISTRATION LAWS AMENDMENT ACT REPUBLIC OF SOUTH AFRICA TAX ADMINISTRATION LAWS AMENDMENT ACT REPUBLIEK VAN SUID-AFRIKA WYSIGINGSWET OP BELASTING- ADMINISTRASIEWETTE No 21, 12 GENERAL EXPLANATORY NOTE: [ ] Words in bold type in square

More information

MEXICO TAXATION GUIDE

MEXICO TAXATION GUIDE THE FLORES LAW FIRM Attorney and Counselor at Law 9901 IH-10 West, Suite 800 San Antonio, TX 78230 TEL. (210) 340-3800 FAX (210) 340-5200 MEXICO TAXATION GUIDE I. RECOGNIZED MEXICAN BUSINESS ENTITIES A.

More information

COMPANIES INCOME TAX COMPUTATION AND TREATMENT IN FINANCIAL STATEMENTS

COMPANIES INCOME TAX COMPUTATION AND TREATMENT IN FINANCIAL STATEMENTS COMPANIES INCOME TAX COMPUTATION AND TREATMENT IN FINANCIAL STATEMENTS PRESENTED BY OLUFUNKE SODIPO TAX MANAGER: PEAK PROFESSIONAL SERVICES IN HOUSE SEMINAR SERIES NO 4 PEAK PROFESSIONAL SERVICES (CHARTERED

More information

Introduction to Taxation

Introduction to Taxation Introduction to Taxation Taxes are the price we pay for a civilized society. - Oliver Wendell Holmes, Jr. Taxation is a financial charge imposed on people. Taxation is a means whereby the state collects

More information

A GUIDE TO DOING BUSINESS IN NIGERIA

A GUIDE TO DOING BUSINESS IN NIGERIA A GUIDE TO DOING BUSINESS IN NIGERIA Copyright Abraham & Co. CONTENT Page Forms of Business Enterprise 3 Registration of a Company and Application for 5 Start-up Approvals The Tax System 8 Checklist for

More information

SOLUTION: ADVANCED TAX MAY, 2014. Chargeable assets under section 97 of Internal Revenue Act is as follows;

SOLUTION: ADVANCED TAX MAY, 2014. Chargeable assets under section 97 of Internal Revenue Act is as follows; SOLUTION 1 (a) (i) Chargeable assets under section 97 of Internal Revenue Act is as follows; - Building of a permanent or temporary nature situated in Ghana - Business and business assets, including goodwill

More information

ROYAL MALAYSIAN CUSTOMS GOODS AND SERVICES TAX GUIDE

ROYAL MALAYSIAN CUSTOMS GOODS AND SERVICES TAX GUIDE ROYAL MALAYSIAN CUSTOMS GOODS AND SERVICES TAX GUIDE ON LEGAL PRACTITIONERS CONTENTS INTRODUCTION... 1 Overview of Goods and Services Tax (GST)... 1 GST TREATMENT FOR THE INDUSTRY... 1 FREQUENTLY ASKED

More information

TAXATION AND FOREIGN EXCHANGE

TAXATION AND FOREIGN EXCHANGE This appendix contains a summary of laws and regulations in respect of taxation and foreign exchange in Hong Kong and the PRC. I. TAXATION IN THE PRC 1. Taxes Applicable to Joint-Stock Limited Companies

More information

TAXATION INTRODUCTION

TAXATION INTRODUCTION TAXATION INTRODUCTION India has a complex tax structure and levy ranges from taxes and duties on corporate income, personal income, manufacturing, sale of goods, works contract, rendition of services,

More information

Monaco Corporate Taxation

Monaco Corporate Taxation Introduction Monaco is a sovereign principality. France is a guarantor of the sovereignty and territorial integrity of Monaco, while Monaco is to conform to French interests. Although the Prince is the

More information

Country Tax Guide.

Country Tax Guide. Country Tax Guide www.bakertillyinternational.com Country Tax Guide Germany Corporate Income Taxes Resident companies, defined as companies which are legally constituted in Germany, or which are legally

More information

GENERAL OVERVIEW OF TAXES, LEVIED IN UKRAINE

GENERAL OVERVIEW OF TAXES, LEVIED IN UKRAINE GENERAL OVERVIEW OF TAXES, LEVIED IN UKRAINE General information on the tax system of Ukraine For the purposes of further discussion we feel it appropriate to provide first brief overview of the tax system

More information

ACT Supplement to the Sierra Leone Gazette Vol. CXLI, No. 25 dated 15th April, No Sierra Leone. No. 2 Finance Act 2010

ACT Supplement to the Sierra Leone Gazette Vol. CXLI, No. 25 dated 15th April, No Sierra Leone. No. 2 Finance Act 2010 10 No. 2 Finance Act 2010 (m) for new shoes under H. S. Code 6403/6405, the duty is 15%; (n) for provisions under H. S. Code 2007.10.10, the duty is 10%; (o) for office stationery under H. S. Code 4816/4817,

More information

GOVERNMENT OF FIJI GAZETTE

GOVERNMENT OF FIJI GAZETTE EXTRAORDINARY 2203 GOVERNMENT OF FIJI GAZETTE PUBLISHED BY AUTHORITY OF THE FIJI GOVERNMENT Vol. 14 FRIDAY, 10th May 2013 No. 48 [565] GOVERNMENT OF FIJI INCOME TAX (AMENDMENT) DECREE 2013 (DECREE NO.

More information

Holding companies in Ireland

Holding companies in Ireland Holding companies in Irel David Lawless Paul Moloney Dillon Eustace, Dublin Irel has long been a destination of choice for holding companies because of its low corporation tax rate of 12.5 percent, participation

More information

INDIRECT TAXES. Some of the indirect taxes are:

INDIRECT TAXES. Some of the indirect taxes are: INDIRECT TAXES Indirect Taxes are the charges levied by the State on consumption, expenditure, privilege, or right but not on income or property. Customs duties levied on imports, excise duties on production,

More information

CYPRUS TAX CONSIDERATIONS

CYPRUS TAX CONSIDERATIONS TAXATION The following summary of material Cyprus, US federal income and United Kingdom tax consequences of ownership of the GDRs is based upon laws, regulations, decrees, rulings, income tax conventions

More information

An Overview of Taxation in Malaysia. Regina PC Lau Executive Director 9 April 2014

An Overview of Taxation in Malaysia. Regina PC Lau Executive Director 9 April 2014 An Overview of Taxation in Malaysia Regina PC Lau Executive Director 9 April 2014 Malaysian Tax Overview - Contents Categories of Taxes Tax Authorities Direct Taxes Indirect Taxes Tax Obligations Tax Calendar

More information

n. dowuona & company setting up business in Ghana

n. dowuona & company setting up business in Ghana n. dowuona & company setting up business in Ghana 1 2 2014 quick facts Region: Sub-Saharan Africa Income group: Lower-middle Population: 25.37 million WBDB* rank: 67 Time Zone: GMT Language: English *

More information

TAX PRACTICE GROUP Multi-Jurisdictional Survey TAX DESK BOOK

TAX PRACTICE GROUP Multi-Jurisdictional Survey TAX DESK BOOK TRINIDAD AND TOBAGO Introduction TAX PRACTICE GROUP Multi-Jurisdictional Survey TAX DESK BOOK CONTACT INFORMATION Myrna Robinson-Walters M. Hamel-Smith &Co Eleven Albion, Dere and Albion Streets, Port-of-Spain,Trinidad

More information

BUDGET TAX GUIDE

BUDGET TAX GUIDE 2016 BUDGET TAX GUIDE 1 2 This SARS pocket tax guide has been developed to provide a synopsis of the most important tax, duty and levy related information for 2016/17. INCOME TAX: INDIVIDUALS AND TRUSTS

More information

TAX TAX NEWSLETTER. July 2012. General Information on the Tax Implications of Carrying On Business in Trinidad and Tobago (T&T) Issues Discussed

TAX TAX NEWSLETTER. July 2012. General Information on the Tax Implications of Carrying On Business in Trinidad and Tobago (T&T) Issues Discussed TAX NEWSLETTER July 2012 Issues Discussed Tax implications of carrying on business in Trinidad and Tobago Corporation tax Business levy Green Fund Levy Withholding tax PAYE National Insurance Value Added

More information

TAXATION AND FOREIGN EXCHANGE

TAXATION AND FOREIGN EXCHANGE TAXATION OF EQUITY HOLDERS The following is a summary of certain PRC and Hong Kong tax consequences of the ownership of H Shares by an investor that purchases such H Shares in the Global Offering and holds

More information

Other Conditions. - Investment to be made between 1 April 2011 and 31 March 2015.

Other Conditions. - Investment to be made between 1 April 2011 and 31 March 2015. N Sri Lanka Tax Alert 21 August 2012 [Issue 1 2012] In this issue of the tax alert, KPMG examines and provides a synopsis of noteworthy legislative changes introduced via Income Tax Amendment Act No. 8

More information

Country Tax Guide. www.bakertillyinternational.com

Country Tax Guide. www.bakertillyinternational.com www.bakertillyinternational.com International Tax Contact Moscow Andrey Kirillov T: +7 (495) 783 88 00 a.kirillov@bakertillyrussaudit.ru Corporate Income Taxes Resident companies, defined as those which

More information

Namibia. Koep & Partners. Introduction

Namibia. Koep & Partners. Introduction Koep & Partners Introduction Key legislation and regulatory structure Once largely ignored by international oil and gas companies, has in recent times been called one of the last frontiers of oil and gas

More information

Country Tax Guide. www.bakertillyinternational.com

Country Tax Guide. www.bakertillyinternational.com Country Tax Guide www.bakertillyinternational.com Baker Tilly Russia www.bakertilly.ru Eduard Kutcherov T: +7 (495) 783 88 00 kutcherov@bakertilly.ru Andrey Kirillov T: +7 (495) 783 88 00 a.kirillov@bakertilly.ru

More information

IBA REAL ESTATE COMMITTEE REAL ESTATE IN A NUTSHELL: CANADA OWNERSHIP/RESTRICTIONS ON OWNERSHIP BY NON-RESIDENTS

IBA REAL ESTATE COMMITTEE REAL ESTATE IN A NUTSHELL: CANADA OWNERSHIP/RESTRICTIONS ON OWNERSHIP BY NON-RESIDENTS IBA REAL ESTATE COMMITTEE REAL ESTATE IN A NUTSHELL: CANADA OWNERSHIP/RESTRICTIONS ON OWNERSHIP BY NON-RESIDENTS Name: Jim Hilton Law Firm and City/Country: Blake, Cassels & Graydon LLP - Canada E-mail

More information

TURKEY CORPORATE TAX (KURUMLAR VERGISI) The basic rate of corporation tax for resident and non-resident companies in Turkey is 20%.

TURKEY CORPORATE TAX (KURUMLAR VERGISI) The basic rate of corporation tax for resident and non-resident companies in Turkey is 20%. TURKEY CORPORATE TAX (KURUMLAR VERGISI) The basic rate of corporation tax for resident and non-resident companies in Turkey is 20%. Corporations in Turkey can be regarded as either limited or unlimited

More information

State of Israel. Income Tax Reform. Tal Yaron-Eldar, Adv. Income Tax and Real Property Tax Commissioner

State of Israel. Income Tax Reform. Tal Yaron-Eldar, Adv. Income Tax and Real Property Tax Commissioner State of Israel Income Tax Reform Tal Yaron-Eldar, Adv. Income Tax and Real Property Tax Commissioner Starting 1/1/2003 Please notice, The following review (written in a presentation format) is a general

More information

CHAPTER 15.16 FISCAL INCENTIVES ACT

CHAPTER 15.16 FISCAL INCENTIVES ACT SAINT LUCIA CHAPTER 15.16 FISCAL INCENTIVES ACT Revised Edition Showing the law as at 31 December 2005 This is a revised edition of the law, prepared by the Law Revision Commissioner under the authority

More information

Saudi Arabia Tax Guide

Saudi Arabia Tax Guide Saudi Arabia Tax Guide I IMPORTANT DISCLAIMER: No person, entity or corporation should act or rely upon any matter or information as contained or implied within this publication without first obtaining

More information

INLAND REVENUE DEPARTMENT St. Lucia. Ministry of Finance, International Financial Services & Economic Affairs

INLAND REVENUE DEPARTMENT St. Lucia. Ministry of Finance, International Financial Services & Economic Affairs INLAND REVENUE DEPARTMENT St. Lucia Ministry of Finance, International Financial Services & Economic Affairs Page 2 Employee s PAYE Guide CONTENTS Page Introduction 3 Definitions: 4 Tax Code 5 Declaration

More information

FOREWORD. Namibia. Services provided by member firms include:

FOREWORD. Namibia. Services provided by member firms include: FOREWORD A country's tax regime is always a key factor for any business considering moving into new markets. What is the corporate tax rate? Are there any incentives for overseas businesses? Are there

More information

Tax treatment of convertible securities acquired by directors and employees. Section 128C TCA 1997

Tax treatment of convertible securities acquired by directors and employees. Section 128C TCA 1997 5.5.27 Tax treatment of convertible securities acquired by directors and employees Section 128C TCA 1997 Last Updated May 2015 1. Introduction Section 128C Taxes Consolidated Act 1997 sets out specific

More information

Brunei Darussalam Tax Profile

Brunei Darussalam Tax Profile Brunei Darussalam Tax Profile Produced in conjunction with the KPMG Asia Pacific Tax Centre Updated: April 2013 Contents 1 Corporate Income Tax 1 2 Income Tax Treaties for the Avoidance of Double Taxation

More information

PROFESSIONAL SERVICES

PROFESSIONAL SERVICES ROYAL MALAYSIAN CUSTOMS GOODS AND SERVICES TAX GUIDE ON PROFESSIONAL SERVICES CONTENTS INTRODUCTION... 1 Overview of Goods and Services Tax... 1 PROFESSIONAL SERVICES... 1 FREQUENTLY ASKED QUESTIONS...

More information

Slovenia. Chapter. Avbreht, Zajc & Partners Ltd. 1 General: Treaties. 2 Transaction Taxes. Ursula Smuk

Slovenia. Chapter. Avbreht, Zajc & Partners Ltd. 1 General: Treaties. 2 Transaction Taxes. Ursula Smuk Chapter Avbreht, Zajc & Partners Ltd. Ursula Smuk 1 General: Treaties 1.1 How many income tax treaties are currently in force in? 44 income tax treaties are currently in force in. 1.2 Do they generally

More information

Ghana Tax Data Cards. February 2016 www.kpmg.com.gh

Ghana Tax Data Cards. February 2016 www.kpmg.com.gh Tax Data Cards February www.kpmg.com.gh Contents Tax Data Cards A. Corporate Tax Rates B. Location Incentives C. Free Zone Enterprise D. Gains on Realisation of Assets or Liabilities and Gifts Received

More information

CHAPTER 77 INTERNATIONAL BUSINESS COMPANIES

CHAPTER 77 INTERNATIONAL BUSINESS COMPANIES 1 L.R.O. 2007 International Business Companies CAP. 77 CHAPTER 77 INTERNATIONAL BUSINESS COMPANIES ARRANGEMENT OF SECTIONS SECTION 1. Short title. 2. Purposes of Act. 3. Interpretation. 4. International

More information

Lecturer: Tal Yaron-Eldar,Adv. Income Tax and Real Property Tax Commissioner starting: 1/1/2003

Lecturer: Tal Yaron-Eldar,Adv. Income Tax and Real Property Tax Commissioner starting: 1/1/2003 Lecturer: Tal Yaron-Eldar,Adv. Income Tax and Real Property Tax Commissioner starting: 1/1/2003 Please notice, The following presentation is a general overview of the reform in Israel. This synopsis does

More information

Guide for Tax Rates/Duties/Levies (Issue 11)

Guide for Tax Rates/Duties/Levies (Issue 11) Guide for Tax Rates/Duties/Levies (Issue 11) Guide for Tax Rates/Duties/Levies Preface This is a guide provides a current and historical view of the rates for various taxes, duties and levies collected

More information

Within the Ministry of Petroleum Resources, technical issues of policy nature, regulatory control of the industry, revenues, royalties and fiscal

Within the Ministry of Petroleum Resources, technical issues of policy nature, regulatory control of the industry, revenues, royalties and fiscal Nigeria s practice and experience in its domestic licensing regimes and views on the implementation of Article 82 with regard to its offshore oil and gas activities By Adesina Adegbie International Workshop

More information

Uganda Fiscal Guide 2012/13 kpmg.com

Uganda Fiscal Guide 2012/13 kpmg.com Tax Uganda Fiscal Guide 2012/13 kpmg.com Introduction: Uganda Fiscal Guide 2012/13 Income tax Basis of taxation Income tax is levied on both companies and individuals under the Income Tax Act, (Cap 340)

More information

ROYAL MALAYSIAN CUSTOMS

ROYAL MALAYSIAN CUSTOMS ROYAL MALAYSIAN CUSTOMS MALAYSIA GOODS AND SERVICES TAX (GST) GUIDE GST GUIDE ON EXPORTS (DRAFT) 1 Contents Page 1. Introduction 3 2. Exportation of Goods and Services 3 3. Terminology 4 4. Place and Time

More information

ROYAL MALAYSIAN CUSTOMS GOODS AND SERVICES TAX GUIDE ON VALUERS, APPRAISERS AND ESTATE AGENTS

ROYAL MALAYSIAN CUSTOMS GOODS AND SERVICES TAX GUIDE ON VALUERS, APPRAISERS AND ESTATE AGENTS ROYAL MALAYSIAN CUSTOMS GOODS AND SERVICES TAX GUIDE ON VALUERS, APPRAISERS AND ESTATE AGENTS CONTENTS INTRODUCTION... 1 Overview of Goods and Services Tax (GST)... 1 GST AND VALUERS, APPRAISERS AND ESTATE

More information

Taxation. General. 1. Taxation UK. Mondi plc Ordinary Shareholders

Taxation. General. 1. Taxation UK. Mondi plc Ordinary Shareholders Taxation The statements set out below are intended only as a general guide to United Kingdom ( UK ) and South Africa ( SA ) current law and practice and apply only to certain categories of person who are

More information

TAXATION OF INTEREST, DIVIDENDS AND CAPITAL GAINS IN CYPRUS

TAXATION OF INTEREST, DIVIDENDS AND CAPITAL GAINS IN CYPRUS TAXATION OF INTEREST, DIVIDENDS AND CAPITAL GAINS IN CYPRUS LAWS AND DECREES The Income Tax (Amendment) Law of 2005 The Special Contribution for Defence (Amendment) Law of 2004 The Assessment and Collection

More information

ROYAL MALAYSIAN CUSTOMS GOODS AND SERVICES TAX GUIDE ON PROFESSIONAL SERVICES

ROYAL MALAYSIAN CUSTOMS GOODS AND SERVICES TAX GUIDE ON PROFESSIONAL SERVICES ROYAL MALAYSIAN CUSTOMS GOODS AND SERVICES TAX GUIDE ON PROFESSIONAL SERVICES CONTENTS INTRODUCTION... 1 Overview of Goods and Services Tax (GST)... 1 PROFESSIONAL SERVICES... 1 FREQUENTLY ASKED QUESTIONS...

More information

INLAND REVENUE BOARD OF MALAYSIA

INLAND REVENUE BOARD OF MALAYSIA UNIT TRUST FUNDS PUBLIC RULING NO. 7/2014 Translation from the original Bahasa Malaysia text. DATE OF PUBLICATION: 4 NOVEMBER 2014 Published by Inland Revenue Board of Malaysia First edition on 23 May

More information

Prescribed form for the registration under VAT- Form A1 with Annexure Prescribed form for the registration under CST- Form A

Prescribed form for the registration under VAT- Form A1 with Annexure Prescribed form for the registration under CST- Form A Prescribed form for the registration under VAT- Form A1 with Annexure Prescribed form for the registration under CST- Form A Fee for Registration under VAT- Rs. 100/- Fee for Registration under CST- Rs.

More information

Company Taxation. There is no difference in treatment in determining the profits and income from any source of a company.

Company Taxation. There is no difference in treatment in determining the profits and income from any source of a company. Company Taxation There is no difference in treatment in determining the profits and income from any source of a company. 1 Calculation of a tax payable for a company 1. Tax on Income taxable at special

More information

INLAND REVENUE BOARD OF MALAYSIA PRE-OPERATIONAL BUSINESS EXPENDITURE

INLAND REVENUE BOARD OF MALAYSIA PRE-OPERATIONAL BUSINESS EXPENDITURE PRE-OPERATIONAL PUBLIC RULING NO. 11/2013 Translation from the original Bahasa Malaysia text DATE OF ISSUE: 18 NOVEMBER 2013 Published by Inland Revenue Board of Malaysia Published on 18 November 2013

More information

(7) For taxable years beginning after December 31, 2012, every. nonresident estate having for the taxable year any gross income

(7) For taxable years beginning after December 31, 2012, every. nonresident estate having for the taxable year any gross income IC 6-3-4 Chapter 4. Returns and Remittances IC 6-3-4-1 Who must make returns Sec. 1. Returns with respect to taxes imposed by this act shall be made by the following: (1) Every resident individual having

More information

HOW TO REGISTER FOR VALUE ADDED TAX

HOW TO REGISTER FOR VALUE ADDED TAX HOW TO REGISTER FOR VALUE ADDED TAX FIJI REVENUE & CUSTOMS AUTHORITY 2 CONTENTS What is Value Added Tax The role of the Registered Person Compulsory Registration What is a Taxable Activity How is the Value

More information

Guide to Japanese Taxes

Guide to Japanese Taxes Guide to Japanese Taxes CONTENTS 1. Introduction --------------------------------------------------------------------------------------------- 1 (1) Principle of Taxation under the Law (2) Self-Assessment

More information

MALTA Jurisdictional Guide

MALTA Jurisdictional Guide MALTA Jurisdictional Guide GENERAL INFORMATION The Republic of Malta is situated in the centre of the Mediterranean, south of Sicily, east of Tunisia and north of Libya. Malta gained its independence from

More information

TAXATION AND FOREIGN EXCHANGE

TAXATION AND FOREIGN EXCHANGE 1. TAXATION OF SECURITY HOLDERS The taxation of income and capital gains of holders of H Shares is subject to the laws and practices of the PRC and of jurisdictions in which holders of H Shares are resident

More information

Cambodia Tax Profile. Produced in conjunction with the KPMG Asia Pacific Tax Centre. Updated: August 2013

Cambodia Tax Profile. Produced in conjunction with the KPMG Asia Pacific Tax Centre. Updated: August 2013 Cambodia Tax Profile Produced in conjunction with the KPMG Asia Pacific Tax Centre Updated: August 2013 Contents 1 Corporate Income Tax 1 2 Income Tax Treaties for the Avoidance of Double Taxation 5 3

More information

INLAND REVENUE BOARD MALAYSIA ALLOWABLE PRE-OPERATIONAL AND PRE-COMMENCEMENT OF BUSINESS EXPENSES

INLAND REVENUE BOARD MALAYSIA ALLOWABLE PRE-OPERATIONAL AND PRE-COMMENCEMENT OF BUSINESS EXPENSES ALLOWABLE PRE-OPERATIONAL AND PUBLIC RULING NO. 2/2010 Translation from the original Bahasa Malaysia text DATE OF ISSUE: 3 JUNE 2010 CONTENTS Page 1. Introduction 1 2. Interpretation 1-2 3. How the tax

More information

INLAND REVENUE BOARD OF MALAYSIA

INLAND REVENUE BOARD OF MALAYSIA TAXATION OF UNIT HOLDERS OF PUBLIC RULING NO. 5/2013 Translation from the original Bahasa Malaysia text. DATE OF ISSUE: 23 MAY 2013 Published by Inland Revenue Board of Malaysia Published on 23 May 2013

More information

INDUSTRIAL INSPECTORATE ACT CAP. 180 L.F.N. 1990 ACT CAP I8 L.F.N. 2004. 1. Establishment and composition of Industrial Inspectorate Division.

INDUSTRIAL INSPECTORATE ACT CAP. 180 L.F.N. 1990 ACT CAP I8 L.F.N. 2004. 1. Establishment and composition of Industrial Inspectorate Division. Visit http://www.jewngr.wordpress.com for more downloads INDUSTRIAL INSPECTORATE ACT CAP. 180 L.F.N. 1990 ACT CAP I8 L.F.N. 2004 ARRANGEMENT OF SECTIONS Section 1. Establishment and composition of Industrial

More information

GLOBAL INDIRECT TAX. Country VAT/GST Essentials. kpmg.com TAX

GLOBAL INDIRECT TAX. Country VAT/GST Essentials. kpmg.com TAX GLOBAL INDIRECT TAX Turkey Country VAT/GST Essentials kpmg.com TAX b Turkey: Country VAT/GST Essentials Turkey: Country VAT/GST Essentials Contents Scope and Rates 2 What supplies are liable to VAT? 2

More information

Saint Lucia Chamber Of Commerce, Industry & Agriculture. Questions on the VAT White Paper

Saint Lucia Chamber Of Commerce, Industry & Agriculture. Questions on the VAT White Paper Saint Lucia Chamber Of Commerce, Industry & Agriculture Questions on the VAT White Paper Section Question Answer General comments Introduction The simulation presented (which is seriously flawed in its

More information

Ghana Fiscal Guide 2013/14 kpmg.com

Ghana Fiscal Guide 2013/14 kpmg.com TAX Ghana Fiscal Guide 2013/14 kpmg.com 1 Ghana Fiscal Guide 2013/2014 INTRODUCTION Ghana Fiscal Guide 2013/2014 Ghana Fiscal Guide 2013/2014 2 Income tax Business income Generally, residents are taxable

More information

REGISTRATION INFORMATION CHANGE PLEASE PRINT IN BLOCK LETTERS NAME AND ADDRESS OF COMPANY IF DIFFERENT FROM ABOVE. USE BLACK INK ONLY NAME OF COMPANY

REGISTRATION INFORMATION CHANGE PLEASE PRINT IN BLOCK LETTERS NAME AND ADDRESS OF COMPANY IF DIFFERENT FROM ABOVE. USE BLACK INK ONLY NAME OF COMPANY GOVERNMENT OF THE REPUBLIC OF TRINIDAD AND TOBAGO Ministry of Finance, Board of Inland Revenue TAX RETURN FOR INSURANCE COMPANIES ONLY Approved by the Board of Inland Revenue under Section 76 of the Income

More information

Client Update George Osborne s Chocolate Box. UK Budget 2016.

Client Update George Osborne s Chocolate Box. UK Budget 2016. 1 Client Update George Osborne s Chocolate Box. UK Budget 2016. LONDON Richard Ward rward@debevoise.com Ceinwen Rees crees@debevoise.com Paul Eastham peastham@debevoise.com Ellie Mends emends@debevoise.com

More information

Thinking Beyond Borders

Thinking Beyond Borders INTERNATIONAL EXECUTIVE SERVICES Thinking Beyond Borders Tanzania kpmg.com Tanzania Introduction Taxation of individuals under the Income Tax Act 2004 (ITA) is on the basis of both residence and source.

More information

ROYAL MALAYSIAN CUSTOMS

ROYAL MALAYSIAN CUSTOMS ROYAL MALAYSIAN CUSTOMS GOODS AND SERVICES TAX GUIDE ON HIRE PURCHASE and CREDIT SALE Table of Contents 1. INTRODUCTION 04 2. OVERVIEW OF GOODS AND SERVICES TAX (GST) 04 3. OVERVIEW GENERAL OPERATIONS

More information

GLOBAL INDIRECT TAX. Thailand. Country VAT/GST Essentials. kpmg.com TAX

GLOBAL INDIRECT TAX. Thailand. Country VAT/GST Essentials. kpmg.com TAX GLOBAL INDIRECT TAX Thailand Country VAT/GST Essentials kpmg.com TAX b Thailand: Country VAT/GST Essentials Thailand: Country VAT/GST Essentials Contents Scope and Rates 2 What supplies are liable to VAT?

More information

-21- TOURISM INCENTIVES ACT SAINT LUCIA. No. 7 of 1996 ARRANGEMENT OF SECTION PART I PRELIMINARY. Part II Approved Tourism Project

-21- TOURISM INCENTIVES ACT SAINT LUCIA. No. 7 of 1996 ARRANGEMENT OF SECTION PART I PRELIMINARY. Part II Approved Tourism Project -21- No.7 1996 TOURISM INCENTIVES ACT SAINT LUCIA No. 7 of 1996 ARRANGEMENT OF SECTION SECTION 1. Short title 2. Interpretation PART I PRELIMINARY Part II Approved Tourism Project 3. Application for approval

More information

COUNTRY PROFILE HONG KONG

COUNTRY PROFILE HONG KONG COUNTRY PROFILE HONG KONG 1. Economy and foreign investments 2. Tax Rates 3. Tax Treaties 4. Tax Credits 5. Property Tax 6. Excise Tax 7. Stamp Duty 8. Capital Duty 9. Estate Duty 10. Other duties, fees

More information

Sierra Leone Fiscal Guide 2012/13 kpmg.com

Sierra Leone Fiscal Guide 2012/13 kpmg.com Tax Sierra Leone Fiscal Guide 2012/13 kpmg.com Introduction: Senegal Fiscal Guide 2012/13 Income tax Basis of taxation Residents are taxable on worldwide income, subject to certain exemptions for foreign

More information

A pocket guide to Singapore tax 2014 If it counts, it s covered

A pocket guide to Singapore tax 2014 If it counts, it s covered A pocket guide to Singapore tax 2014 If it counts, it s covered Corporate taxation Corporate income tax ( CIT ) rate Standard rate is 17%. Tax exemption/rebates Singapore also offers a range of tax exemption

More information

Cambodia Tax Profile. kpmg.com.kh

Cambodia Tax Profile. kpmg.com.kh Cambodia Tax Profile kpmg.com.kh Content 1 2 Tax Profile Income Tax Treaties for the Avoidance of Double Taxation 6 Indirect Tax (e.g. VAT/GST) 7 8 Personal Taxation Other Taxes 9 11 Free Trade Agreements

More information

UAE TAX. Personal Tax

UAE TAX. Personal Tax UAE TAX This document aims to provide a brief outline of the laws and treaties in force in the UAE, an overview of the taxation regime in the UAE including a summary of the UAE double taxation treaties

More information

TAXATION INFORMATION. Purchases of Ordinary Shares by the Mondi Incentive Schemes Trust Trustees

TAXATION INFORMATION. Purchases of Ordinary Shares by the Mondi Incentive Schemes Trust Trustees TAXATION INFORMATION South African taxation The following is a general summary of the South African tax implications for Ordinary Shares held by South African tax residents included in the Odd-lot Offer,

More information

News Flash. September, 2015. Tax guide for property investment in Hungary

News Flash. September, 2015. Tax guide for property investment in Hungary News Flash September, 2015 Tax guide for property investment in Hungary Tax guide for property investment in Hungary In our current newsletter we would like to inform you about the most important taxation

More information

represents 70 percent of the Federal Government

represents 70 percent of the Federal Government GENERAL TAX ISSUES Income tax represents approximately 70 percent of the total tax revenue of the Australian Federal Government Income tax represents approximately 70 percent of the total tax revenue of

More information

Bank of Zambia. Bank of Zambia Balance of Payments Monitoring Guide (2013)

Bank of Zambia. Bank of Zambia Balance of Payments Monitoring Guide (2013) Bank of Zambia Bank of Zambia Balance of Payments Monitoring Guide (2013) Bank of Zambia Balance of Payments Monitoring Guide (2013) Document Information AUTHOR VERSION 3.00 PROJECT Bank of Zambia Balance

More information

trust and corporate services in Gibraltar

trust and corporate services in Gibraltar Acquarius Trust Group trust and corporate services in Gibraltar Comprehensive Global Fiduciary Services.the total solution built around you the people the service the quality Acquarius Trust Group 1 OUR

More information

Fundamentals Level Skills Module, Paper F6 (ZWE)

Fundamentals Level Skills Module, Paper F6 (ZWE) Answers Fundamentals Level Skills Module, Paper F6 (ZWE) Taxation (Zimbabwe) December 2015 Answers and Marking Scheme Section A 1 D Prescribed rate of interest 1 5% + 5% = 6 5% Relevant loan $6 000 Taxable

More information

Setting up your Business in SINGAPORE Issues to consider

Setting up your Business in SINGAPORE Issues to consider SINGAPORE is commerce, industry, heritage, culture and entertainment all rolled into a little island of slightly over 700 square kilometres with a population of 5.4 million. Here at the crossroads of Asia,

More information

Ministry Of Finance VAT Department. VAT Guidance for Financial Services Version 4: June 09, 2015

Ministry Of Finance VAT Department. VAT Guidance for Financial Services Version 4: June 09, 2015 Ministry Of Finance VAT Department VAT Guidance for Financial Services Version 4: June 09, 2015 Introduction This guide is intended to provide businesses offering financial services with information about

More information

MINISTER OF FINANCE OF THE REPUBLIC OF INDONESIA COPY REGULATION OF THE MINISTER OF FINANCE OF THE REPUBLIC OF INDONESIA NUMBER 159/PMK.

MINISTER OF FINANCE OF THE REPUBLIC OF INDONESIA COPY REGULATION OF THE MINISTER OF FINANCE OF THE REPUBLIC OF INDONESIA NUMBER 159/PMK. COPY REGULATION OF THE MINISTER OF FINANCE NUMBER 159/PMK.010/2015 REGARDING GRANTING OF CORPORATE INCOME TAX REDUCTION FACILITY BY THE GRACE OF GOD ALMIGHTY THE MINISTER OF FINANCE, Considering : a. whereas

More information

IRAS e-tax Guide. GST: Travel Industry (Sixth Edition)

IRAS e-tax Guide. GST: Travel Industry (Sixth Edition) IRAS e-tax Guide GST: Travel Industry (Sixth Edition) Published by Inland Revenue Authority of Singapore Published on 01 Oct 2012 First edition on Jan 1994 Second edition on Apr 2003 Third edition on 01

More information

Mexican Tax Law. Value Added Tax (VAT) is assessed on the consummation within the Mexican territory of the following types of transactions:

Mexican Tax Law. Value Added Tax (VAT) is assessed on the consummation within the Mexican territory of the following types of transactions: Mexican Tax Law By: Benjamin C. Rosen brosen@rosenlaw.com.mx Last Update: September 2006 INTRODUCTION Mexican companies (including subsidiaries of foreign companies), as well as permanent establishments

More information

Elite Retirement Account

Elite Retirement Account Elite Retirement Account Schedule of Fees & Services This document helps you understand the fees for establishing and administering a SIPP. It also provides you with a comprehensive guide to all costs,

More information

Invesco Funds. Société d investissement à capital variable (SICAV) United Kingdom Country Supplement. 22 August 2016

Invesco Funds. Société d investissement à capital variable (SICAV) United Kingdom Country Supplement. 22 August 2016 Invesco Funds Société d investissement à capital variable (SICAV) 22 August 2016 This United Kingdom country supplement forms part of and should be read in conjunction with the Prospectus of Invesco Funds,

More information

Nigeria Fiscal Guide 2014/15

Nigeria Fiscal Guide 2014/15 0 Nigeria Fiscal Guide 2014/2015 TAX Nigeria Fiscal Guide 2014/15 kpmg.com 1 Nigeria Fiscal Guide 2014/2015 2013/2014 INTRODUCTION Nigeria Fiscal Guide 2014/2015 2 Nigeria Fiscal Guide 2014/2015 Income

More information

ST. CHRISTOPHER AND NEVIS VALUE ADDED TAX REGISTRATION GUIDE

ST. CHRISTOPHER AND NEVIS VALUE ADDED TAX REGISTRATION GUIDE ST. CHRISTOPHER AND NEVIS VALUE ADDED TAX REGISTRATION GUIDE Contents PURPOSE... 3 St. Kitts and Nevis Value Added Tax (VAT)... 3 Who is required to register?... 4 Who is a taxable person?... 5 What is

More information

Cyprus International Trusts

Cyprus International Trusts Cyprus International Trusts Cyprus International Trusts qualification criteria The International Trusts Law of 1992 complements the Trustee Law which is based on the English Trustee Act 1925. Under section

More information

Income tax for individuals is computed on a monthly basis by applying the above progressive tax rates to employment income.

Income tax for individuals is computed on a monthly basis by applying the above progressive tax rates to employment income. Worldwide personal tax guide 2013 2014 China Local information Tax Authority Website Tax Year Tax Return due date Is joint filing possible Are tax return extensions possible State Administration of Taxation

More information

Taxation of Cross-Border Mergers and Acquisitions

Taxation of Cross-Border Mergers and Acquisitions KPMG INTERNATIONAL Taxation of Cross-Border Mergers and Acquisitions Panama kpmg.com 2 Panama: Taxation of Cross-Border Mergers and Acquisitions Panama Introduction The signing of several Free Trade Agreements

More information

Expanding into Brazil

Expanding into Brazil Expanding into Brazil Support for your Business kpmg.ie Expanding into Brazil 1 Are you looking to expand your business into Brazil? Dynamic Irish businesses are looking to new markets to expand and grow.

More information

a) contributions by Nigerians both in the public and private sectors. b) investment in the Fund by commercial and merchant banks;

a) contributions by Nigerians both in the public and private sectors. b) investment in the Fund by commercial and merchant banks; 8 National Housing Fund Act 1. Establishment of the National Housing Fund 1) There is hereby established a fund to be known as the National Housing Fund (in this Act referred to as the Fund ). 2) All contributions

More information

INTERNATIONAL PRODUCTION IN AUSTRALIA

INTERNATIONAL PRODUCTION IN AUSTRALIA INTERNATIONAL PRODUCTION IN AUSTRALIA GOODS & SERVICES TAX (GST) & CAST/CREW WITHHOLDING TAX GUIDE FOR FOREIGN PRODUCERS Prepared by Moneypenny Services in conjunction with Disclaimer The information has

More information

DEPARTMENT OF MINERAL RESOURCES

DEPARTMENT OF MINERAL RESOURCES DEPARTMENT OF MINERAL RESOURCES MINERALS POLICY HANDBOOK DEPARTMENT OF MINERAL RESOURCES PRIVATE MAIL BAG PORT MORESBY POST OFFICE PORT MORESBY NCD PAPUA NEW GUINEA DEPARTMENT OF MINERAL RESOURCES MINERALS

More information

Company Income Tax and Other Taxes

Company Income Tax and Other Taxes Company Income Tax and Other Taxes Company Taxation Arrangements The company tax rate (also known as the corporate) is 30%. The treatment of business expenditure for the mining and petroleum industries

More information