Investor Presentaiton
The Country and its
institutions
Business Organisation Labour and Social
and Regulation
Security Regulations
The Nigerian Financial Tax System
Services Industry
Foreign Exchange
Transactions
Investment in Nigeria
Accounting and
Auditing Requirements
Importation of Goods
Exportation of Goods
COVID-19 - Economic
and Fiscal Measures
合
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Additional #100 billion intervention fund in healthcare loans to pharmaceutical
companies and healthcare practitioners intending to expand/build capacity.
Identification of few key local pharmaceutical companies that will be granted
funding facilities to support the procurement of raw-materials and equipment
required to boost local drug production.
N1 trillion in loans to boost local manufacturing and production across critical
sectors.
11.3 Fiscal Measures
In 2020, the FIRS introduced the following measures to mitigate the impact of
COVID-19 on taxpayers:
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Extension of timeline for filing of VAT and WHT from the 21st day to the last
working day of the month, following the month of deduction.
Use of electronic platforms for payment of taxes and processing of TCC.
Proposed creation of a portal where documents required for desk reviews and
tax audits will be uploaded by taxpayers for online access by the tax authority.
Submission of tax returns online or by designated email accounts published by
the FIRS.
• Taxpayers with liabilities in foreign currencies can pay in Naira at the prevailing
Investors and Exporters (I & E) FX rate on the day of payment.
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Introduction of a virtual option for the purpose of conducting field audits,
investigations and monitoring visits and reconciliation of audit issues.
KPMG
Investment in Nigeria Guide - 8th Edition 84View entire presentation