Ifeanyi Onuba
The Federal Government has granted a three-year tax incentive to 25 companies under the Industrial Development Income Tax Act.
A 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 it is generally regarded as an industrial measure aimed at stimulating investments into the economy.This means companies with a pioneer status do not have to pay tax for a certain period of time, thus allowing the firms to get established. This can be a full or partial tax exemption.The products or companies suitable for […]
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