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Nigeria: Tax and economy watch: Is there a perfect storm gathering?

12 December 2014   (0 Comments)
Posted by: Author: Taiwo Oyedele
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Author: Taiwo Oyedele (PwC Nigeria)

You never know who is swimming naked until the tide goes out." - Warren Buffet

There have been significant developments in Nigeria over the past few weeks and days which have impacts on businesses, and could redefine the tax landscape. The falling oil prices and the depletion of the foreign reserves have led to the devaluation of Naira and a more aggressive approach to tax collection by the authorities.

Read our tax alert and economy watch to find out how these developments may affect you and the steps you should take to manage the impact.

Download Tax Alert_Key Tax Issues and Stakeholder Forum

Download Economy Watch - Managing the impact of declining oil prices

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Section 240A of the Tax Administration Act, 2011 (as amended) requires that all tax practitioners register with a recognized controlling body before 1 July 2013. It is a criminal offense to not register with both a recognized controlling body and SARS.


The Act requires that a minimum academic and practical requirments be set to register with a controlling body. Click here for the minimum requirements of SAIT.

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