• Tax

    In collaboration with a leading local accountancy firm, OBG provides an overview of the tax system, including information on corporate, sales and income taxes. Other topics include repatriation of profits, capital movements, investment incentives, Customs duties and free zones.
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The drive to increase government revenue through tax collection will not likely abate in the years to come as revenue from oil, which the government had been heavily depended on in the past is constantly declining.

 

For Nigeria to experience meaningful and enduring economic growth and development, its ability to attract substantial foreign direct investment (FDI) is crucial, as it permits transfer of technology and skills to facilitate improvements in productivity, which in turn translates to an increase in the country’s per capita income and an overall...

 

MSMEs are critical to the development of any nation due to their numerous contributions to the economy. MSMEs are perceived to be the engine of growth and catalyst for socio-economic transformation of any country because of their significant contribution to the advancement of new product development and processes, and employment generation. In...

Chapter | Tax from The Report: Nigeria 2019

In conjunction with Grant Thornton, this chapter explores the taxation system and Nigeria’s efforts to build an investor-friendly environment. It also contains a viewpoint with Peter N Orizu, Executive Chairman; and Nkwachi Abuka, Partner and Head of Tax, Grant Thornton.

Combining oil and gas wealth with the entrepreneurial efforts of its predominantly young population, Nigeria has developed a business-friendly environment over the past two decades of civilian rule. The country has effectively leveraged its abundance of natural resources and harnessed the strength of its 193m-strong population to become a key nation both on the African continent and beyond.

As hydrocarbons forms the backbone of Kuwait’s economy, the resurgence in global commodity markets bodes well for the future and has led to a renewed sense of optimism. The recovering market is also supporting the government’s diversification efforts under the auspices of the Kuwait National Development Plan, or New Kuwait.