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Firs circular on cafa

WebSep 29, 2024 · Interestingly the FIRS in its 1997 Circular titled “Detailed List of Items Exempted from Value Added Tax (VAT)” (FIRS Circular No. 9701) clearly listed “House Rent on Residential Accommodation” as exempt from VAT. Based on this, FIRS held the view that the express mention of residential leases as VAT exempt in the Circular … http://brtnews.ng/wp-content/uploads/2024/11/FIRS-INFO-CIRCULAR-ON-IFRS-PUBLISHED-IN-MARCH-2013-Copy.pdf

FIRS Issues Information Circulars On Provisions Of Tax Laws ... - Mondaq

The FIRS Circular has introduced additional administrativerequirements for the claim of capital allowance on QCE in Nigeria.Previously, FIRS officials did not necessarily rely on theavailability of Certificate of Acceptance as a support for theclaim of capital allowance on QCE. The officials usually insistedon the provision of … See more On 9 May 2024, the Federal Inland Revenue Service(FIRS or"the Service") issued a Public Notice to all taxpayers,tax consultants and the general public requiring companies … See more Section 3 of the Industrial Inspectorate Act, Cap I8, LFN 2004(as amended) (IIA) requires companies proposing to start a newundertaking or incur additional capital expenditure to notify … See more WebThis circular is issued for the information and guidance of the general public, taxpayers and tax practitioners in line with the provisions of the relevant tax laws. This circular replaces … geofencing and law enforcement https://glammedupbydior.com

FIRS Issues Guidelines On The Claim Of Capital Allowance For ... - Mondaq

WebCDFA - Fairs & Expositions - Resources and Publications - District Agricultural Association Notices Circular Letters. CDFA Home. Fairs & Expositions. Resources and Publications. … WebAll reimbursement requests are to be postmarked or emailed prior to June 1st, 2024. All requests postmarked or emailed on or after June 1st, 2024 . WILL NOT . be reimbursed. … WebJun 12, 2024 · That the directive contained in the FIRS Information Circular No. 02/2007 mandating all Companies operating in the Oil & Gas Sector to deduct VAT at source and remit same to FIRS in line with the ... chris kresser probiotic recommendation

Certificate of Acceptance of Fixed Assets: Its Significance on

Category:Certificate of acceptance on fixed assets (CAFA)

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Firs circular on cafa

FIRS directs taxpayers to submit CoA on Fixed Assets - KPMG

WebAug 22, 2024 · According to the PN, its position is based on its Information Circular No. 2006/02 issued in February, 2006 and the Companies Income Tax Act (Rates, Etc. Deduction at Source (Withholding Tax) Regulations. The FIRS, however, stated that a number of companies have failed to deduct WHT and VAT from such compensations … WebJun 21, 2024 · The aforementioned Public Notice generated a lot of debate regarding the powers of the FIRS to request for submission of CAFA as a claim for capital allowance. Although the need for CAFA is a statutory requirement, some have argued that the CITA, as well as the Petroleum Industry Act (PIA), do not contain provisions requiring CAFA as a ...

Firs circular on cafa

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WebFIRS generally seeks to withdraw the capital allowance claimed by a company where the company is unable to provide CAFA in support of its investment in the acquisition of … WebIn line with Section 8 of Federal Inland Revenue Service (Establishment) Act 2007, Federal Inland Revenue Service (FIRS) is issuing this information circular to provide direction to all Revenue Staff, Tax Practitioners, Consultants, Taxpayers and the General Public on the tax implications of the adoption of the International Financial

WebJul 9, 2024 · Summary. On 24th June, 2024, the Federal Inland Revenue Service (“FIRS” or “the Service”) issued a Public Notice stating that certain items which were included as exempt from Value Added Tax (“VAT”) … WebFederal Inland Revenue Service, Revenue House, NO. 15 Sokode Crescent, Wuse Zone 5, Abuja. Email: [email protected]; [email protected] Signed: Muhammad Nami …

Web1 hour ago · HILTON HEAD ISLAND, S.C. (AP) — England's Aaron Rai birdied two of his final three holes to shoot 8-under 63 and take a one-stroke lead over Viktor Hovland after the first-round of the rain ... WebSep 23, 2024 · FIRS appoints MTN, Airtel, banks to withhold VAT November 29, 2024; FIRS begins direct collection of tax from online gaming transactions October 27, 2024; FIRS circular on National Agency for Science and Engineering Infrastructure (NASENI) Levy September 23, 2024; New way of paying taxes to Lagos State Internal Revenue Service …

WebMay 30, 2024 · It is no longer news that the Finance Act 2024 amended seven (7) tax legislations. In a bid to provide clarification to some ambiguous provisions of the Finance Act and the modalities for its application, the …

WebMar 25, 2024 · The due date for filing CIT returns has been extended by one month – i.e. seven months after the financial year end, e.g. July, 2024 for companies with a 31 December, 2024 year end; Taxpayers that wish to file their returns with the FIRS without an audited account can file same, provided that the relevant audited accounts are submitted ... chris kribble sccm make collectionWebSep 10, 2024 · In 2009, the FIRS issued another Circular and further attempted to clarify the ambiguity by subjecting "all types of contracts and agency arrangements" to WHT while deleting the 'sale in the ordinary course of business' exemption. While the modification in the 2009 Circular appears a quick fix, it is instructive to note that the Nigerian Courts ... chris kresser recommended probioticsWebSep 16, 2024 · Summary. On 10 th September, 2024, the Tax Appeal Tribunal (“TAT”) in the case of Ess-ay Holdings Limited (“Ess-ay Holdings” or “the Company”) v Federal Inland Revenue Service (“FIRS”) held that a lease of real property whether for commercial or residential purposes does not amount to a supply of goods and services and therefore ... geofencing and marketing