Nigeria's Finance Bill seeks to shore up the government's revenue base by amending seven acts of the National Assembly relating to taxes. Ken Erikume, Partner of Tax Reporting and Strategy at PwC Nigeria joined CNBC Africa's Kenneth Igbomor to breakdown the Finance Bill, as members of Nigeria’s House of Representatives boycotted the public hearing slated for Tuesday.
President of Association of Telecoms Companies (ATCON) of Nigeria, Olusola Teniola says the planned 9 per cent Communication Service Tax represents an additional burden to telecoms subscribers. To discuss the implications of this move, Olusola Teniola joins CNBC Africa for more.
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.