The Central Board of Direct Taxes (CBDT), on June 17, 2016, vide notification no. 47/2016/ F. No. 275/53/2012 – IT(B), notified that no deduction of tax under Chapter XVII of the Income tax Act, 1961 shall be made on the payments of the nature specified below, in case such payment is made by a person to a bank listed in the Second Schedule to the Reserve Bank of India Act, 1934 (2 of 1934), […]
“At The Palms now. They have started paying to park. Everybody inside here is walking ‘fast fast’.” – Chima Emerueh
Chima’s observation is a classic illustration of our tendency as humans to change our behaviour to avoid additional costs (in this case the introduction of a parking fee of only N200 at a shopping mall in Lagos). I can bet you know a friend (and maybe you are even the type) who, in order to […]
The 2016 federal budget is scheduled to be tabled on March 22. So, what tax measures can we expect to see in this year’s federal budget?
Following the Liberal party’s win in the October federal election, the government acted quickly to implement a number of the tax measures that were included in their election platform, as well as some new measures, specifically:
a 4% increase in the top federal rate of tax (from 29% to 33%) […]