CHALLENGES WITH IMPLEMENTATION OF ZERO TAXATION FOR SMALL COMPANIES
Section 7 of the Finance Act, 2019 provides that small companies are exempted from paying corporation tax. The Finance Act further defined small companies as companies that earn a gross turnover of N25, 000, 000.00 or less. This provision amended the erstwhile section 23(1) (o) of the Companies Income tax Act (CITA) and replaced it […]