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Nairaland Forum / Nairaland / General / Travel / 22 Things To Know About The Oshodi-apapa Expressway (18473 Views)
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Re: 22 Things To Know About The Oshodi-apapa Expressway by odimbannamdi(m): 5:54pm On May 24, 2019 |
deepwater: This is deeep |
Re: 22 Things To Know About The Oshodi-apapa Expressway by ACE1010: 5:57pm On May 24, 2019 |
FhukaFhuka: Abi somebody back you AKPAKO
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Re: 22 Things To Know About The Oshodi-apapa Expressway by 9jaRealist: 5:55am On May 25, 2019 |
AutoJoshNG: This is INCORRECT! It's NOT a tax holiday, but a TAX CREDIT (credited towards actual accrued tax liability) and for THREE YEARS (not 10 years). Precisely, this PPP arrangement between the federal government and the Dangote Group was made pursuant to Executive Order (EO) No. 07 of 2019 (which is NOT exclusive to the Dangote Group or to this project but also applies to several other projects undertaken by several other private sector companies), and what it actually provides is that the private infrastructure provider (in this case, the Dangote Group) shall be able to OFFSET its actual audited tax liability accrued over a THREE-YEAR PERIOD (not ten years) up to the contract amount. The ten-years referred to in the EO is to the life of the EO itself, which was provided to remain in force for a period of ten years as from its coming into force in January 2019. The ten years does NOT refer to the period during of tax credit or relief. In other words, the Dangote Group, in this case, shall be offset its actual audited tax liability ACCRUED OVER ANY THREE-YEAR TAX PERIOD (not over ten years) by means of a tax credit taken within the ten-year lifespan of EO No. 07 (2019) up to the contract amount of N72.9 billion. The Dangote Group (or such other private sector infrastructure provider) will nonetheless still remain liable for any tax liabilities over the contract amount of N72.9 billion (both during the three-year credit period and/or the broader ten-year lifespan of EO No. 07 of 2019). > |
Re: 22 Things To Know About The Oshodi-apapa Expressway by 9jaRealist: 7:20am On May 25, 2019 |
HospitalityDiva: Obi1kenobi: deepwater: It's NOT a tax holiday, but a TAX CREDIT (credited towards actual accrued tax liability) and for THREE YEARS (not 10 years). Furthermore, it is NOT being afforded only to the Dangote Group. Rather, there are actually a total of SIX private sector companies that will be accorded tax credit and relief under this Public-Private Partnership arrangement made pursuant to Executive Order No. 7 of 2019. Accordingly, in addition to the Dangote Group, the others are Lafarge Africa Plc, Unilever Nigeria Plc, Flour Mills of Nigeria Plc, Nigeria LNG Limited, and China Road and Bridge Corporation Nigeria Ltd. These 6 private companies will be investing in a total of 19 road projects (totaling approximately 794.4 kilometers in 11 states across each of the six geopolitical zones). For the avoidance of any doubt, Executive Order No. 07 provides is that private infrastructure providers shall be able to OFFSET actual audited tax liabilities accrued over a THREE-YEAR PERIOD (not ten years), within the lifespan of Executive Order No. 7, by taking a tax CREDIT (that is, a credit against such tax liabilities) up to the contract amount involved in each of the covered projects (apart from the 19 initial projects, proposals are requested from interested companies for additional projects). The only ten-year period referenced in the Executive Order No. 7 is the lifespan of the Order, which is provided to remain in force for a period of 10 years as from its coming into force in January 2019. Accordingly, there has NOT been any 10-year tax holiday or exemption granted to the Dangote Group or the SIX other private sector companies in relation to any of the projects currently covered by Executive Order No. 7, including the Apapa-Oshodi-Oworonshoki-Ojota Road project. > 1 Like 1 Share |
Re: 22 Things To Know About The Oshodi-apapa Expressway by tomdon(m): 10:43am On May 25, 2019 |
So the fg cannot construct road by itself |
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