Nigerian public holidays good friday 25 march 2016 easter sunday 27 march 2016 easter monday 28 march 2016. Nigerias experience in the granting of tax incentives is traceable to the inception of british administration in the territory, when all sorts of reliefs, allowances, and tax holidays were granted to british companies and individuals as an attraction to establish trade links with the country. The policy will now be endorsed by the national economic council to recognize the federal system of government given the application of the policy to all tiers of government. File estimated tax return for 2016 year of assessment. In 1940, the direct taxation ordinances were introduced to nigeria through the administration and collection of taxes was still shared between the british administration and the local authorities. Following the directive by the president general of the nigerian supreme. Overview of holidays and many observances in nigeria during the year 2015. There is a 100% tax holiday for seven years and additional 5% depreciation. Womens day commemorates womens contributions to society internationally. Pdf since the discovery of oil in the country, the attention of nigerias public revenue has gradually shifted from tax revenue to nontax revenue.
These dates may be modified as official changes are announced, so please check back regularly for updates. Health, nutrition and population global practice, world bank, washington, usa. National day in nigeria is on thursday, 01 october 2020. Nigeria tax guide 20162017 the nigeria pkf tax guide 20162017 provides details about tax in nigeria and contact details for local tax specialists in local pkf firms who will be able to provide taxation advice to help your business. Naturally, the adoption of the ntp in 2012 raised the following key questions around nigerias tax system given that there are existing tax legislation in operation within the polity. According to danielova and sarkar 2011, the public authorities will have both direct and.
Nigeria tax guide 2016 2017 the nigeria pkf tax guide 2016 2017 provides details about tax in nigeria and contact details for local tax specialists in local pkf firms who will be able to provide taxation advice to help your business. This publication is a summary of the major tax laws in nigeria, prepared for. In the previous year, there were national holidays declared to register to vote and to vote. Amine mati, who said this in lagos on saturday, also stated that the federal government needed to. Here is a quick roundup in case you missed any major tax event in 2016. The nigeria lng has been one company in the country that was granted pioneer status when it commenced business in 1989, to enable it venture into the business of harnessing nigerias abundant. Tax revenue generation is faced with a number of challenges. The world travel guide wtg is the flagship digital consumer brand within the columbus travel media portfolio.
Tax calendar january 2016 sunday monday tuesday wednesday thursday friday saturday 1 2. This form of tax is imposed on the income of all nigeria citizens or residents who obtain their income in and outside nigeria. Actual inflation year on year as at april 2016 was. Reviewing nigerias tax policy the guardian nigeria news. Holidays and observances in nigeria in 2020 time and date. Fg declares today, tomorrow public holidays vanguard news. Pdf tax revenue and its effect on selected macroeconomic.
Is today a public holiday in nigeria is the question everyone asks when june 12 in nigeria comes on us. Tax knowledge, penalties and tax compliance in small and medium scale enterprises in nigeria article pdf available in ibusiness 0801. Guess how many nigerians pay tax and how our government. Public and bank holidays for nigeria 2017 list of nigeria public holidays, national holiday celebrations, bank holidays, official holiday calendar, legal holidays, religious festivals for the year 2017. The budget speech was silent on the proposals to introduce. The immediate and long term implications for businesses operating in nigeria. A guide to tax incentives in africa kpmg international. See the full list of national public holidays in nigeria 2017. The minister of interior of the federal government of nigeria, abdulrahman bello dambazau, via his permanent secretary, abubakar magaji, has announced that the nigerian government, had declared friday, december 1, 2017, as a nonworking public holiday throughout nigeria to mark the eidel maulud birth of prophet muhammad celebration. South africa, nigeria and morocco are notably the only countries in africa that offer. Public holidays in nigeria 2016 bank holidays in nigeria. Free business zones have been creating, that in nigeria since 1991. Nigeria public holidays 2017, nigerian national holidays.
Nigeria public holidays 2020, nigerian national holidays. Nigerias 2016 budget highlights ngn bn 2016 2015 %change. In nigeria, we have developed deep industry experience around the following areas. May 2425 eid alfitr end of ramadan june 12 commemoration day lagos august 1 eid alkabir feast of the sacrifice august 20 islamic new year. A comprehensive guide to the worlds best travel destinations, its print heritage stretches back more than 30 years, with the online portal reaching its 20year anniversary in 2019. Nigerias national tax policy any agenda for the new firs chair.
Pdf tax knowledge, penalties and tax compliance in small. Nigerian public holiday december 1 public holidays news. This page contains a national calendar of all 2019 public holidays. The nigerian minister of interior, abdulrahman dambazau, in a statement on behalf of the federal government of nigeria, has announced that friday and monday, june 15 and 18, 2018, had been declared as nonworking public holidays throughout nigeria on account of the upcoming eidelfitri end of ramadan annual public holidays of nigeria. Nigeria government revenues 20102019 data 20202022. Public holidays in nigeria and nigerian bank holidays in. List of public and national holidays for nigeria in the year 2019. Morocco mozambique namibia niger nigeria rwanda sao tome and principe. Contrary to what happened in previous years 20160630.
Improve nigerias ranking on the global ease of paying taxes index from the current position of 181 out of 189 economies to top 50 by the year 2020 encourage diversification, expand the country. The nigerian government has released the statement below extending the eidelfitri holiday in the country by one day. Click to see national public holidays in nigeria for 2019 here if you are a civil servant and are looking to plan your year ahead, especially as a federal government worker, these updated national public holiday dates for 2018 calendar might help as you wont be caught unawares especially when the government declares a national holiday at. The senior resident representative and mission chief for nigeria, africa department, imf, mr. Nigeria has various tax incentives intended to encourage investment in key sectors of the economy, as follows.
The federal government has declared tuesday, 5th and wednesday, 6th july, 2016 as public holiday to mark eidel fitri celebrations. Some of this festivals and holidays are also celebrated to mark the birthday of religious. For instance, the government declared a 5day national holiday for the inauguration of its president in 2016. The following are the existing tax legislation in nigeria, as at 2016. Good friday commemorating the crucifixion of jesus christ and. Nigeria holiday calendar 2016 holidays and festivals are a part of our culture, tradition and nationality. The federal executive council, the highest executive decision making organ in nigeria, yesterday approved a new national tax policy for the country. Christmas day is one of the biggest christian celebrations and falls on december 25 in the gregorian calendar. New years day first day of the year on the modern gregorian calendar as well as the julian calendar. Popular upcoming holidays you may be interested in. This years declaration of friday, december 1, 2017, as a. Domestic revenue defined as tax and non tax public revenues excluding grants increased by almost four percentage points of gdp between 2002 and 2007, reaching an average of over 25% in 2007 for the whole of subsaharan africa. Nigerias tax collection performance is very poor at the moment. Pioneer status is a tax holiday granted by government to companies interested in investing in difficult sectors of the economy with the understanding that profits from their operations would be ploughed back to the business, to create jobs and boost the growth of the economy.
National holidays in nigeria in 2020 office holidays. At states level, most are barely able to pay salaries. However, since 1972 direct taxes such as petroleum profit tax, companies income tax and other revenue became glaringly the leading sources of government revenue in nigeria anyafo, 1996. Comprehensive list of national public holidays that are celebrated in nigeria during 2020 with dates and information on the origin and meaning of holidays. When you look at all the public holidays in nigeria, we will just find june 12 in nigeria sitting amidst the dates, and who says there should not be a public holiday in nigeria at that date. Generally, tax authorities across the country became more aggressive with revenue drive including the use of consultants and unconventional methods for tax audits.
This led to the federal inland revenue services establishment act 2007 thereinafter referred as the act 2 on tax administration at the state level in nigeria. This is due to the high cost of borrowing and low tax revenue indicating that there is really no room for further borrowing. Taxes could be imposed directly or indirectly on the following bases. National holidays in benin are regulated by ordinance 7933 issued on july 2, 1979 and by the labour code. Pdf nigeria is governed by a federal system, hence its fiscal operations also. Independence day nigeria is on thursday, 01 october 2015. Pioneer companies investing in specified industrial activities may, on application, be granted a tax holiday for three years initially, which may be extended for up to two years upon satisfaction of specified conditions. A buja the federal government has declared today and tomorrow public holidays to mark the eidelfitr.
The policy will now be endorsed by the national economic council to recognize the federal system of government given the application of the policy to all tiers of. List of national and public holidays for nigeria in the year 2014. New years eve is the last day of the year, december 31, in the gregorian calendar. Imf wants nigeria to stop tax holidays punch newspapers. Nigeria s commitment to universal health coverage was enshrined by the passage of the national health act of 2014 in response to the continued. Nigeria public holidays, nigeria holidays 2020, bank holidays, national holidays, official holiday calendar, religious festivals and celebrations for the year 2020. Special public holiday elections presidential inauguration day. Excluding nigeria and south africa, government revenue as a share of gdp rose even more in the continent. New year holiday public holiday as new years day falls on a sunday. Nigerian eid public holidays june 1518 news update. Nigeria public holidays 2018 this page contains a national calendar of all 2018 public holidays. The foregoing had been the situation until towards the end of the last regime when the country embarked on a world bank inspired economic reform agenda.
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