The applications for tax waivers of 213 companies submitted to the Nigerian Investment Promotion Commission have yet to be approved five years after the government agency received them, findings by THE WHISTLER have revealed.
The companies are seeking the tax waiver under the Pioneer Status Incentive scheme and in compliance with the Industrial Development (Income Tax Relief) Act 2004.
AdvertisementA pioneer status is an incentive from the federal government, which exempts companies from basic income tax.The incentive is also known as tax holiday and is generally regarded as an industrial measure aimed at stimulating investment into the economy.This means companies with […]
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