Tax breaks are a vital strategy for Nigeria in the execution of its ease of doing business strategies. While speaking in an interview with CNBC Africa's Christy Cole, on the sidelines of the ongoing annual conference of the Nigerian Bar Association's Section on Business Law, Cecilia Akintomide, non-Executive Director of FBN Holdings pointed out that such tax breaks and incentives would normally be reinvested by business owners leading to expansion and more jobs.
The Federal High Court in Lagos has ruled against the preliminary objection filed by Nigeria's Attorney General in response to the three billion Naira suit filed against him by telecoms operator MTN Nigeria. The court ruled that MTN Nigeria met the deadline to respond to the tax demand levelled by the Attorney General of the Federation.
Premier Li Keqiang is due to deliver his annual report on economic policy on Tuesday at the annual National People’s Congress. The government is planning to cut the value-added tax rate that covers the manufacturing sector by 3 percentage points as part of measures to support the slowing economy, a person familiar with the matter said.