Tax
From The Report: Nigeria 2013
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In conjunction with PwC Nigeria, OBG explores the taxation system, examining Nigeria’s investor-friendly environment. OBG talks to Taiwo Oyedele, Partner & Head of Tax, PwC Nigeria.

Articles from this Chapter

Overview

Duty calls: A look at the taxation system and rules for foreign investors
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CORPORATE ENTITIES: Nigeria has rules and regulations governing the operation of corporate entities. A foreign entity intending to do business in Nigeria is required by the Companies and Allied Matters Act (CAMA) to incorporate a Nigerian company for that purpose. Branch operations/offices of foreign firms are not allowed in Nigeria except in rare circumstances involving government projects, where specific exemption for branch offices may be granted. The Corporate Affairs Commission (CAC),…

Analysis

Time for change: A proactive approach is being taken to building the system
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As Nigeria continues to seek ways to diversify its economy, governments and corporate organisations recognise the importance of a dynamic tax system that is not only geared toward fiscal growth but addresses today’s business environment. The government, especially through the Federal Inland Revenue Service (FIRS) and the Joint Tax Board, is adopting a proactive approach to building the system. Below are some recent changes in the tax environment and other impending changes likely to have a…

Interview

OBG talks to Taiwo Oyedele, Partner & Head of Tax, PwC Nigeria
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Interview:Taiwo Oyedele How do the recently introduced transfer pricing rules affect investors? TAIWO OYEDELE: Generally, transfer pricing refers to the structuring and pricing of transactions between members of the same controlled group. The concern is typically with cross-border transactions where income and expenses are allocated among taxpayers in different jurisdictions. However, many countries, including Nigeria, also consider domestic transactions between affiliates. The new regulations…