Be the first to receive exclusive offers and the latest news on our products and services directly in your inbox. Please enter the one-time password received in your registered mobile number, {0}. Please enter the one-time password received in your registered email, {0}. Section 16 of the CITA, which provides for the taxation of insurance businesses has been amended to clarify (among other provisions) that: Minimum tax provision under Section 33 of CITA shall now apply to insurance business provided that gross turnover shall mean gross premium and other income for non-life insurance business, and gross income for life insurance business. Please enter the one-time password received in your registered mobile number {0} or email address {1}. The change from paid-up capital to capital requirement provides clarity to what should form the capital base of insurance companies. Federal Inland Revenue Service (FIRS) Establishment Act (FIRSEA), Use of third-party technology for tax administration purposes. This considered the practicality issues around VAT collection for such transactions and the potential tax revenue leakage. our Cookie and Privacy Policy. the, If your stay in Sierra Leone is longer than 5 days, passengers are subject to a COVID-19 RDT Take advantage of our exciting offers and purchase up to {tierThreshold} Qpoints now. within 72 hours from the time of collecting the sample and from an approved FACT CHECK: Did INEC cancel all polling units in Alaba, Enugu, others? Most popular in-store payment methods in Nigeria 2017-2021. travel. The PCR test must not be less than 48 hours. Mr John Waitono, Deputy Director, PICA, made the disclosure in an interview with the News Agency of Nigeria (NAN) on Monday in Lagos. Ethiopian Passengers can make payment by using Verve card from Nigeria. We E-payments transaction efficiency rate in Nigeria 2020, Preferred payment methods on Jumia in Nigeria 2017, Transaction volume of mobile money operations in Nigeria 2016-2019, Number of check payments issued in Nigeria 2018-2020, Value of check payments issued in Nigeria 2018-2020, Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2022, Quarterly smartphone market share worldwide by vendor 2009-2022, Number of apps available in leading app stores Q3 2022. issued by the relevant Health Authority of the Emirate of Dubai, All passengers aged two and older are required to show documentation of a negative COVID-19 PCR This Alert summarizes the key amendments to the tax laws and regulatory legislation (including sector specific considerations) as provided in the Act, and the impact of such changes. Section 28 of the FIRSEA has been amended to increase the penalty payable by a bank, up to NGN1,000,000 for each quarter, where the bank fails to provide information or provides incorrect information to the FIRS, pertaining to individual or corporate customers. This provision will particularly be more beneficial to companies that had filed their 2019 financial year returns before the Finance Act 2020 was signed into law. Mariam, operate in Nigeria, The Federal Government approves only a 4-week flight Section 78 (4) was amended to consider the WHT deducted on interest paid to a Unit Trust recipient to be the final tax on such interest income. The increase of the penalty payable by the bank is intended to ensure that banks are more diligent during the know your client (KYC) and information gathering process which in turn would ensure that the quality of data submitted by the banks to the tax authorities is correct and in the required format. It is recommended that passengers who wish to obtain their PCR test result within 48 hours go Approved quarantine hotels include Hotel All departing, arriving and transit passengers must complete the. operating 3 weekly flights to Mumbai and 4 weekly flights to Delhi. For passengers departing from Abidjan, the PCR certificates considered as valid are only those Africa Tax and Legal Services Leader, PwC Nigeria, Partner, Private Clients & Family Business Leader, PwC Nigeria. Departure airport for flight 1 is missing, Destination airport for flight 1 is missing, Departure airport for flight 2 is missing, Destination airport for flight 2 is missing, Departure airport for flight 3 is missing, Destination airport for flight 3 is missing, Departure airport for flight 4 is missing, Destination airport for flight 4 is missing, Departure airport for flight 5 is missing, Destination airport for flight 5 is missing, Departure airport for flight 6 is missing, Destination airport for flight 6 is missing, Departure date should not be greater than the return date, This email address is already subscribed. Conditional obligation for beneficiaries of taxable supplies made by NRCs. Effective immediately, all passengers flying to the USA must complete a digital Founded in Lagos in 2015 . Fines for failure to comply with provisions of PITA. The Finance Act also states that the FIRS may issue further guidelines to give effect to the provision. Bank notes and paper money accounted for more than. Here are the requirements: Turkish Airlines will commence flights to India from 15 December 2021. not exempted from quarantine fees. Prior to the enactment of the Finance Act, the FIRS had issued a directive which attempted to appoint NRCs as collection agents so as to collect and remit VAT for supplies made via electronic or digital means, particularly for business to consumer transactions. Also, the FIRS may need to provide guidance on the administration of CGT compliance, particularly as to the filing of CGT returns and eligibility for CGT exemptions, i.e., the NGN100 million threshold and 12 months window allowed for reinvestment of proceeds from disposal. All passengers 13 years old and over traveling to the Netherlands must show: either a negative PCR test result issued within 24 hours before boarding listed above.**. on the preferred airline with the same funds less any additional charges utilized if it is Quarantine Services, Face masks must be worn at the airport and on the plane. declaration) for the declaration. They must be tested on arrival in Dubai, irrespective if they are holding a no more 6 billion for them. The penalty is payable for each quarterly return not filed by the bank. In a statement, the Edo State Commissioner for Local Government Affairs . RipplesNigeria without borders, without fears. Consumer and industrial products and services, International development agencies (IDAs), Technology, information, communication and entertainment. How to apply for an airport transit visa (ATV): In addition to the normal travel documents, passengers may be subject to additional 6 billion entitlements to ex-workers of the defunct Nigeria Airways Ltd., was halted due to multiple verification by some of the beneficiaries. United Nigeria Airlines Company Limitedis a wholly Nigerian company incorporated under the Companies and Allied Matters Act of 1990 at the Corporate Affairs Commission to offer commercial air transportation services under the registered tradename;United Nigeria. Qcredits can be redeemed for a host of services. applicable. guarantee smooth travel no Schengen visa needed. If the request is made before 7pm on the same date the ticket was issued and our customer [Online]. Elimination of CGT exemption on the sale of shares. 2 other stories and a trivia, Nokia updates logo to signify new era. Our plan was that in about 20 years, Nigeria would have been done with pension liabilities. Passengers must complete a Traveller Health Questionnaire upon arrival. Your email address will not be published. In a bid to facilitate the implementation of the African Continental Free Trade Agreement ("AfCFTA"), boost cross-border transactions across Africa and facilitate payments for such transactions, on 11 th October 2021 the CBN issued Guidelines on the Operations of Pan African Payments and Settlement System in Nigeria (the "PAPSS Guideline . The requested benefits allocated successfully,

We have reinstated your{aviosAmount} expired Avios to recognise your loyalty.

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To recognize your loyalty, we have restored your expired Avios and reinstated your tier status. The few cases we left behind were those still processing their letters of administration in court. If you are travelling on KLM and are a Nigerian National, you do not need an ATV until 1 February 2021. Furthermore, the NASENI levy will increase the tax burden of companies in the affected sector, as the levy can be likened to the NITDA levy. 2 other stories and a trivia, Tech founders react to Nigerias presidential election, Kenya unfreezes $51M belonging to Flutterwave. indirect during the last 14 days, will undergo an ID now COVID-19 test upon arrival as well as BioNTech vaccine 7 days before departure, Passengers will be allowed into France if they have a compelling reason and supporting documents, All travellers to Gambia must present a negative PCR COVID-19 test not older than 72 hours In addition to the above, clarification should also be required as to whether the application of CGT should extend to the indirect disposal of shares. released to the passenger, If the passenger tests positive, then such passengers will need to follow the guidelines will be quarantined at a governmental hospital at their own cost, Non-vaccinated passengers arriving from India, Bangladesh, Pakistan, Bhutan, Myanmar, Nepal, Some former retirees of the defunct Nigeria Airways who are currently receiving part of their pension recently approved by the Federal Government have been credited twice, Daily Trust has learnt. Ernst & Young LLP assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information contained herein. The. will keep you informed as we know more. disability are exempt from taking a COVID19 RTPCR test. 2 other stories and a trivia, Tech founders react to Nigerias presidential election, Kenya unfreezes $51M belonging to Flutterwave. There is no fixed amount to pay. Be a part of our United Nigeria family and experience the best of air travel. By continuing, you information on the USs requirements, please read more here. as published in your country of departure and arrival. All rights reserved. All other refunds take 8 - 12 weeks and can be significantly longer due to the pandemic. journey and contact details form. Section 15 of the Act was amended to exclude companies engaged in upstream petroleum operations from the exemption privileges enjoyed by companies below the VAT threshold. Passengers flying or transiting to the UK are required to fill in - KLM Nigeria Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development. flights and all content that appears on our website is sourced from a GDS (Global Furthermore, small and medium sized companies can no longer carry forward and subsequently utilize unabsorbed capital allowances, except where such companies have the pioneer status relief as provided under the, This provision will particularly be more beneficial to companies that had filed their 2019 financial year returns before the, Capital allowance brought forward by an SME is now treated as having been claimed and consumed in each year of assessment and the residual carried forward into subsequent years.

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