Investor Presentaiton
Free Trade Zones & Nigeria Tax Regime
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Review of NEPZA & OGEFZA Provisions (cont'd)
Sections 24(2)/23(2) empowers Minister to modify
application of any enactment in the Zone where same
restricts or interferes with smooth running of the Zone,
etc. - Constitutional?
Enterprises to submit returns as may be required to the
Authority. Transfer of shares, etc must be approved.
- Authority may with Ministerial approval, make
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regulations for implementation of the Acts (ss. 27 & 25).
Pursuant to FZs (Monitoring & Regulation) Order
2002, the Authority shall monitor management of FTZs and:
- license all FZs in Nigeria; issue certificates of valuation of
assets or investments (instruments of ownership).
formulate and publish, operating standards to be
observed in the FTZs;
recommend sub-zone status for appropriate enterprises.
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