Nigeria Compliance Hub

Company Income Tax Act Amendment

2016-12-15 4:40 PM | by Nigeria Compliancehub

Companies are mandated by law to pay Company Income Tax (CIT) in Nigeria based on the profit. The amount charged is 30% o the profit earned in the year preceding assessment.

Companies resident in Nigeria are liable for CIT on their worldwide income and non-resident companies are liable only to CIT… Read more

Company Income Tax Act

2016-12-15 4:51 PM | by Nigeria Compliancehub

Companies are mandated by law to pay Company Income Tax (CIT) in Nigeria based on the profit. The amount charged is 30% o the profit earned in the year preceding assessment.

Companies resident in Nigeria are liable for CIT on their worldwide income and non-resident companies are liable only to CIT… Read more

Bills of Exchange Act

2016-12-16 11:28 AM | by Nigeria Compliancehub

This is an Act to codify the law relating to bills of exchange, cheques and promissory notes. Read more

Company and Allied Matter Act

2016-12-16 12:28 PM | by Nigeria Compliancehub

An Act to establish the Corporate Affairs Commission, provide for the incorporation of companies and incidental matters, registration of business names and the incorporation of trustees of certain communities, bodies and… Read more

Customs and Excise Management (Amendment) Act

2016-12-20 1:15 PM | by Nigeria Compliancehub

An Act to amend the Customs and Excise Management Act to provide for a new method of valuation of goods based on the transactional value.

Capital Gains Tax Act

2016-12-20 4:19 PM | by Nigeria Compliancehub

This is an Act to provide for the taxation of capital gains accruing on disposal of asset.

Federal Inland Revenue Service (Establisment) Act

2016-12-20 4:43 PM | by Nigeria Compliancehub

This is an Act to provide for the establishment of the Federal Inland Revenue Service charged with the powers of assessment, collection of, and accounting for revenue accruable to the Government of the Federation, and for related matters.

Income Tax (Authorised Communications) Act

2016-12-20 4:52 PM | by Nigeria Compliancehub

This is an Act to make provision for authorised communications on income tax matters. Read more

Personal Income Tax Act

2016-12-20 5:02 PM | by Nigeria Compliancehub

This is an Act to impose income tax on individuals, communities and families and on executors and trustees; and to provide for the assessment and collection and administration of the tax. Read more

Stamp Duties Act

2016-12-20 5:10 PM | by Nigeria Compliancehub

This is an Act to provide for the levying of stamp duties on certain matters.

Treasury Bills Act

2016-12-20 5:12 PM | by Nigeria Compliancehub

This is an Act to authorise the borrowing of money for the purposes of the Federation by the issue of treasury bills in Nigeria. Read more

Value Added Tax Act

2016-12-20 5:17 PM | by Nigeria Compliancehub

An Act to impose and charge Value Added Tax on certain goods and services and to provide for the administration of the tax and matters related thereto.

Value Added Tax (Amendment) Act

2016-12-20 5:27 PM | by Nigeria Compliancehub

An Act to amend to Value Added Tax Act and for related matters. Read more

Corrupt Practices and Other Related Offences Act

2016-12-20 5:54 PM | by Nigeria Compliancehub

The act seeks to prohibit and prescribe punishment for corrupt practices and other related offences. It establishes an Independent Corrupt Practices and Other Related Offences Commission vesting it with the responsibility for investigation and prosecution of offenders thereof.

Indutrial Training Fund Act

2016-12-20 6:00 PM | by Nigeria Compliancehub

An Act to set up an Industrial Training Fund comprising sums provided by the Federal Government and contributions by employers in the prescribed matters and other related matters.

Insurance Act

2016-12-20 6:15 PM | by Nigeria Compliancehub

This Act applies to all insurance business and insurers, other than insurance business carried on or by insurers of the following description- (a) a friendly society that is an association of persons established with no share for the purposes of aiding its members or their dependants where… Read more

National Agency for Food and Drug Administration and Control Act

2016-12-20 6:20 PM | by Nigeria Compliancehub

This is an Act to establish the National Agency for Food and Drug Administration and Control with the functions, among others, to regulate and control the importation, exportation, manufacture, advertisement, distribution, sale and use of food, drugs,cosmetics, medical devices, bottled water and chemicals.

National Drugs Law Enforcement Agency Act

2016-12-20 6:31 PM | by Nigeria Compliancehub

An Act to establish the National Drug Law Enforcement Agency to enforce laws against the cultivation, processing, sale, trafficking and use of hard drugs and to empower the Agency to investigate persons suspected to have dealings in drugs and other related matter.

Cybercrimes (Prohibition, Prevention, etc) Act

2016-12-20 6:38 PM | by Nigeria Compliancehub

The Act provides an effective, unified and comprehensive legal, regulatory and institutional framework for the prohibition, prevention, detection, prosecution and punishment of cyber crimes in Nigeria. This act also ensures the protection of critical national information infrastructure, and promotes cyber security and the protection of computer systems and… Read more

Nigerian Investment Promotion Commission Act

2016-12-20 6:43 PM | by Nigeria Compliancehub

An Act to establish the Nigerian Investment Promotion Commission, to encourage and promote investment in the Nigerian economy; and for matters connected therewith.

Pension Reform Act

2016-12-20 6:51 PM | by Nigeria Compliancehub

This Act repeals the Pension Reform Act No .2, 2004 and enacts the Pension Reform Act, 2014 to continue to govern and regulate the administration of the uniform contributory pension scheme for both the public and private sectors in Nigeria.

Standards Organisation of Nigeria Act

2016-12-20 7:50 PM | by Nigeria Compliancehub

This is an Act to establish the Standards Organisation of Nigeria to designate, establish and approve standards in respect of metrology, materials, commodities, structures and processes for the certification of products in commerce and industry throughout Nigeria and to carry out any other functions imposed on it under this Act… Read more

Advertising Practitioner’s (Registration, etc.) Act

2017-01-16 1:40 PM | by Nigeria Compliancehub

This is an act to establish a council for advertising practitioners and to make provisions for the control of the practice of the profession of advertising. The Council shall have the powers to determine who are advertising practitioners and to determine what standards of knowledge and skill are… Read more

Standard Organization Of Nigeria (SON) ACT

2017-09-12 3:00 PM | by Nigeria Compliancehub

The Standard Organisation of Nigeria (SON) is the primary body vested with the sole responsibility of regulating the quality of all products in Nigeria to ensure they meet up with the required standard. It was formerly known as… Read more

SON Launches PAM to Check Substandard Products

2017-12-15 3:45 PM | by Nigeria Compliancehub

The Director-General of the Standards Organisation of Nigeria (SON), Osita Aboloma, has said that the agency’s newly introduced Product Authentication Mark (PAM) will raise the patronage of made-in-Nigeria products and boost the country’s economic diversification drive from oil to non-oil sector and check substandard products.

The PAM is a mark of… Read more

Posts in Industrial Goods related to Acts and Laws