MegaCity Magazine

Types of Tax

(i) Personal Income Tax
Best of Judgment Assessment
Exempted Income
Final and conclusive Assessment
Interest and Penalties on overdue tax
PAYE/WHT Assessment
Exempted income
Tax treatment of Directors’ Remunerations
Withholding Tax under PITA
Determination of State of residence
Taxation of expatriates in Nigeria etc

(ii) Companies Income Tax
Allowable Deductions
Bond – Taxation of gains from sales of short or long term securities
Distinguishing income from capital gains
Dividend - Latest decision on taxation of excess dividend – Section 19 of CITA
The incidence of Minimum Tax
Exempted income
Fixed Base
Tax avoidance/invasion
Taxation of Gas income
Transfer Pricing
Turnover Assessment etc

(iii) Petroleum Profits Tax
Allowable Deductions under PPTA
Disputes relating to Production Sharing Contracts
Methodology for determining the fiscal value of crude
Tax treatment of inter - company loans
Tax treatment of Gas Flaring fees
Capital allowance and Petroleum Investment Allowance
Incentives for gas utilisation
The Wholly, Exclusively and Necessarily Test
Tax treatment of sole cost
Taxation of Investment Income under PPTA- etc


(iv) Value Added Tax
Destination Principle whether applicable in Nigeria
Exempted Item – bottled water whether vatable
Input – Output Mechanism of VAT
Power to vary or amend VAT rate
Reverse charge method of VAT collection
Zero rated vs Exempted VAT
VAT on services rendered electronically
VAT on transfer of interest in oil blocs etc

(v) Miscellaneous
Arbitrability of tax disputes
Stamp Duties - The proper party to collect stamp duties
Stamp Duties – Items exempted from stamp duties
Tax Authorities – Scope of the Power of the tax authorities to impose and collect tax.
NDDC and other levies etc.

We look forward to hearing from you.

For more enquiry contact the undersigned
08035638483,
Ayodele Lambo & Co (Chartered Accountants/Tax Consultants)