The Finance Act 2021 made provisions for tax exemptions for small companies with a turnover of ₦25 million or less. The Act also reduced the Company Income Tax rate of medium-sized companies, with a turnover of more than ₦25 million but less than ₦100 million from 30% to 20%.
In this article, we will take a look at this and other tax incentives like the pioneer status provided by the Nigerian government to ensure the stability of new and start-up companies. Tap on the link below to know more.
https://authoritywit.com/tax-exemption-nigeria/