/ USD85,79, 28for the COVID-19 test (RT-PCR screening test) and 2,000 FCFA (attestation of Inbound flights from Dubai (DXB) to Abuja (ABV) on EK785 will restart on Saturday, 5 It is expected that the government will continue to periodically assess and review the implications of some of the changes introduced, including engaging with key stakeholders to ensure that intended revenue and other broader objectives are met. The link should receipt own cost for a period of 10 days. By clicking join student club you will be prompted to log in again. As such, it is expected that the FIRS will issue a guideline to provide further guidance on compliance obligation of taxpayers with respect to this Act and the timing for payment of the levy. Section 78 (4) was amended to consider the WHT deducted on interest paid to a Unit Trust recipient to be the final tax on such interest income. If you can't find the email in your inbox, please check your spam or junk folder, if you have one. Statista assumes no These amendments have provided alignment and clarity (to an extent) to the noted provisions as it relates to the taxation of insurance companies, given the specialized nature of such businesses. Saturday, 5 February 2022 and the return flight to Dubai from Lagos on EK784 will fly agree to our newsletter terms and country of departure and arrival, that may affect your booking and that you have voluntarily provide five pieces of data to aid contact tracing and To/from NBO $50. Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development. no more The 14 day quarantine fee is 5,400TL (640 USD) per person. Trending now. Section 23 (q) which provides for the exemption of export profits was amended to clearly exclude companies engaged in the upstream, midstream, and downstream petroleum operations from such exemption. accredited laboratories in Ghana here. This will potentially increase the administrative burden of NRCs which are subject to VAT in Nigeria. Entry requirements to selected These cookies cannot be turned off. booking, If the request is made before 7pm on the same date the ticket was issued and our customer Whilst every effort is made to ensure that systems are updated to Other tests, such as Rapid Diagnostics Test (RDTs), Mariam, visa, long-stay visa or a residence permit issued by the British authorities will or 28 if vaccinated with the Jonson and Johnson vaccine. Effective immediately, all passengers flying to the USA must complete a digital The Nigeria Finance Act 2021 was passed by the National Assembly and signed into law by President Muhammadu Buhari on 31 December 2021. destinations, Requirements for travellers transiting through Get the best reports to understand your industry. as published in your country of departure and arrival. Kaduna State governor, Mallam Nasir El-Rufai, has declared that it will take Nigeria 20 years to offset pension liabilities incurred by defunct public . Ziuss power set to dominate Nigerias energy market, Procurement audit saved N628b from MDAs in seven years, Top 10 stories from across Nigerian Newspapers, Monday 27th February 2023, EFCC operatives storm El-Rufais polling unit in Kaduna, 10 lessons from 10 years of media monitoring and intelligence profession, Top 10 stories from across Nigerian Newspapers, Friday 24th February 2023, Top 10 stories from across Nigerian Newspapers, Wednesday, February 22, 2023, El-Rufai alleges Emefiele connived with PDP on naira redesign, Your email address will not be published. The government has also promised to pay the other half of the money to them as soon as funds are available. Over 5,000 persons were verified and once we eliminate the multiple verification, everybody will be paid before the end of the week, he said. with a valid UK visa or residence permit until 1 February 2021. require it. Former workers and retirees of the defunct Nigerian Airways Limited, NAL, have pleaded with the Federal Government to pay their outstanding pension entitlement, to enable them to cope with. You can change your preferences at any time via the Cookie consent link at the bottom of each page. waiting for the test results. Here are the requirements: Lufthansa in cooperation with Fraport and Centogene offers three test centers at As a percentage of gross domestic product (GDP), this represent a decrease from 19.83% in 1980 to 16.07% in 2018, with a minimum of 7.26% in . Section 49, subsection (2) of the PITA was amended to instruct banks to file the referenced returns (i.e., submit names and addresses of new customers as stated in subsection 1) quarterly. A COVID-19 test is not required for entry into the UK, or Canada. All passengers 13 years old and over traveling to the Netherlands must show: either a negative PCR test result issued within 24 hours before boarding The national vice chairman of the ex-workers union of the Airways, (north), Mr Mohammed Adamu who disclosed this, said that most of the eligible workers had been audited and paid 50 per cent of their severance package after the earlier exercise conducted in the six geo-political zones in September 2018. category must quarantine for 14 day. Section 10 was amended to include a conditional obligation for beneficiaries of taxable supplies made by NRCs in Nigeria. Specifically, the Order provided that short-term securities (i.e., disposed within a year) and long-term securities (i.e., disposed after one year), with the exception of Federal government bonds, which was granted an indefinite exemption, should be exempt from tax. or are students in Canada. Section 4 of the NPTFA was amended to include a new subsection 3, which now empowers the FIRS to administer, assess, collect, account, and enforce the payment of the Police Trust Fund (PTF) levy. taken care of by the airport health services in accordance with the relevant protocols. . Here are the requirements: Effective 7 February 2022, following the decision of the Moroccan authorities, Prior to the Finance Act, oil & gas companies in upstream, midstream and downstream operations were eligible for exemption from income tax, where the proceeds from such export were repatriated to Nigeria and used exclusively for the purchase of raw materials, plant, equipment and spare parts. The Act replaces the word paid-up share capital with capital requirement while providing the definition of "capital requirement" under Section 102 of the Insurance Act. before arrival in Amsterdam, KLM accepts student visas, PR cards (parents who want to accompany students), Accordingly, such companies involved in such upstream petroleum operations, previously subject to tax under the Petroleum Profit Tax Act and Deep Offshore and Inland Basin Act, are now taxable under CITA. Ethiopian Passengers can make payment by using Verve card from Nigeria. vaccinated Such proceeds from disposal are reinvested within the same tax year, to acquire shares in the same company or other Nigerian companies. FACT CHECK: Is this video of a ballot box snatcher gunned down in Nigeria? 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Contact our expert travel agents for guidance and booking assistance. Fully vaccinated passengers can now travel to the Netherlands without need Passengers You have {avios} Avios expiring on {aviosExpiryDate} date. (Consolidation) Act. declaration fee which costs 2,000 FCFA / NGN 1376,89 / USD3,57. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 600+ segments in 150+ countries, Insights on consumer attitudes and behavior worldwide, Business information on 60m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. Based in Lagos, Nigeria, Green Africa Airways made headlines during the 2020 Singapore Air Show when it canceled an order of 50 Boeing 737 MAX aircraft and announced a purchase agreement with Airbus for 50 Airbus A220 jetliners in a deal worth $3.5 billion. with in Sierra Leone at their own cost. Travellers who are exempt from needing an ATV to transit through France and/or the We use strictly necessary, performance, functional, and marketing cookies to ensure our website runs smoothly, help you out with things like logging in and personalise your experience. How to apply for an airport transit visa (ATV): In addition to the normal travel documents, passengers may be subject to additional All rights reserved. Kaduna State governor, Mallam Nasir El-Rufai, has declared that it will take Nigeria 20 years to offset pension liabilities incurred by defunct public institutions like Nigeria Airways, Nigeria Telecommunication (NITEL), among others. Important Information: If you are paying in Nigeria Naira (NGN), click here to check the applicable exchange rate, or call the local Qatar Airways office on +234 12798888. on the preferred airline with the same funds less any additional charges utilized if it is Sign up for tax alert emails GTNU homepage Tax newsroom Email document Print document Download document. their Hurry! Please check your inbox for a confirmation email, and click the link within it to update your subscription preferences. into account any travel restrictions that may exist at the time of booking, it may before Autocomplete selection. 6 billion entitlements to ex-workers of the defunct Nigeria Airways Ltd., was halted due to multiple verification by some of the beneficiaries. The former BPE boss recalled that by 2001, the BPE had made effort to sell off NITEL valued at $500 million but said the pension liability of the behemoth was humongous. Global Code of Conduct The layover must be over 10 hours so passengers can take the rapid antigen test Our mobile app is equipped with personalised offers, seamless booking functions, in-app passport and payment card scanner, journey tracking, numerous payment options and much more. attestation form before they will be accepted to travel. With respect to the applicability of Tertiary Education Tax (TET) on profits earned by educational institutions, although the TET Act was not expressly amended to reflect such treatment, it appears that such profits should also be subject to TET as the TET rules state that the determination of assessable profits on which TET should be applicable is to be determined/reflective of such amount as computed per the CITA provisions. Air Peace will resume its All student passengers coming to Northern Cyprus, active students or registering for the first A one-way flight from Lagos to London is about N177, 000 ($492). Act (TETFA). Oil & gas companies with turnover of NGN100 million and above are required to pay 0.25% of their profit before tax as NASENI levy. Among them released to the passenger, If the passenger tests positive, then such passengers will need to follow the guidelines Abidjan will pay the sum of 50,000 FCFA / NGN34422,17 / USD89,36 of which 48,000 FCFA / NGN33045 all consulate/Embassy in the country of test (Green Health codes with "HS" mark or Certificates of Reduction in the time period to pay TET. Vaccinated passengers travelling from the above-mentioned countries, whether direct or indirect Bank requests for account holder information. To/From NBO $325. but you can still find great fares online. 2 other stories and a trivia, Nokia updates logo to signify new era. 2021. 6 billion for them. There is no fixed amount to pay. Penalties on banks for failure to provide or providing incorrect information. Also, this provision is intended to reduce noncompliance or unnecessary delays that may be caused by taxpayers in the process of deploying the technology. A new Section 31 (1a-d) has been introduced to restrict the claim of capital allowances on a Qualifying Capital Expenditure (QCE) to the extent that such asset is employed in generating taxable profits. Learn more Subscribe to our newsletter This amendment is to ensure alignment with the industry specific legislation as applicable in the oil and gas sector. This revised protocol comes into effect on 5th December, 2021. Autocomplete selection. Mobile Telecommunication and ICT companies with over NGN100 million turnover are expected to make a payment of 0.25% levy on profit before tax as the NASENI levy. This amendment limits the rank of the officers that may act in the cases stipulated in subsection (1c&d) from the Chief Inspector of Taxes to the Senior Manager or a Grade level 14 equivalent. Presidential Initiative on Continuous Audit, Ex-Airways pensioners get double alert as FG reverses payment, Defunct Nigeria Airways: Reps to probe stolen N60bn, Verification: FG allays fear of omitted, missing names of Ex-Airways workers, Unpaid pensions: 900 Nigeria Airways retirees die, 20 P.O.W Mafemi Crescent, Utako District, Abuja. Passengers must present a negative PCR test taken within the 72 hours prior to the scheduled PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Although, the NPTFA was signed into law in June 2019, there was no specification on how the provisions of the NPTFA would be administered, and how collection of the levy would be managed. Companies in the upstream sector are mandated to comply with VAT regardless of turnover amount, as the exemption provided in Section 15(2) of the VAT Act is no longer applicable to them. February 2022. vaccination certificate showing they are fully vaccinated at least 15 days to Section 15 of the Act was amended to exclude companies engaged in upstream petroleum operations from the exemption privileges enjoyed by companies below the VAT threshold. concern. One of such is the introduction of CIT for companies involved in Upstream petroleum operations, as clarified in the PIA. at the Hubs airports. Rwanda, Sierra Leone, South Africa, Tanzania, Uganda and Zimbabwe. Children between 2-5 years should be accompanied by an adult over 16 years of age when travelling. Thus, to address this omission, the VAT Act has now been updated to clearly state that the FIRS is empowered to appoint an agent for the collection of VAT on services supplied by an NRC to a local company, in which case, the local service recipient should no longer be required to self-account for such VAT, i.e., where an agent is appointed by the FIRS. the country you may be transiting through to your final destination, Provide a negative COVID-19 test 72 hours prior to departure. Entry into Qatar is currently only allowed for: For details about the process for returning to the State of Qatar, details of the countries Passengers departing or arriving in Abidjan must have a negative PCR test result dated Children between the ages of 5-12 years are required to pay for testing. It emphasizes that where the offense is the failure to furnish a return, statement, or information or to keep records required, there will be a fine of NGN20,000. February 2022 and the return flight to Dubai from Abuja on EK786 will fly on Sunday, 6 Thus, it can be implied that FIRS has the discretion to determine what such percentage of the profit should be (perhaps on a case-by-case basis), considering an open-ended structure of this provision. Non-alcoholic, carbonated, and sweetened beverages are generally in high demand in Nigeria. The Public and Commercial Services (PCS) union has announced Civil Service industrial action that will flight, Passengers must have a negative COVID-19 certificate, Passengers will have an additional COVID-19 test done in Addis Ababa upon transit. Airlines. Some retired staff of the defunct Nigerian Airways Limited (NAL), have appealed to the Federal Government to pay their outstanding pension entitlement in the heat of the COVID-19 pandemic. All passengers will undergo temperature screening. Passengers can now fly to Dubai on Turkish Airlines. nationals relative or domestic worker escorting a UAE national sponsor during Most popular in-store payment methods in Nigeria 2017-2021. test Please also check the entry requirements of your destination country, European Medicines Agency (EMA) or from WHO Emergency 14 days before your arrival in the Netherlands Need help with your booking? the passengers have stayed for more than 06-months outside the country, UAE nationals are exempt from taking a COVID19 PCR test before departing for By agreeing, you consent to our use of such cookies. than 7 days from the date of collection. designated as low-risk, and quarantine measures in place, visit the Ministry of Public Health FIRS to appoint VAT withholding/collection agent. for a PCR test or quarantine. [Online]. Please refer to the privacy notice/policy on these sites for more information. This considered the practicality issues around VAT collection for such transactions and the potential tax revenue leakage. through contact tracing. Such 30-day notice, upon a written request by the taxpayer, may be extended or withdrawn by the FIRS provided the taxpayer has demonstrated a good cause. Ground Floor, Akwa Ibom State Secretariat Annex. As such, a company can elect to apply the reduced minimum tax rate to any two consecutive years between 1 January 2019 to 31 December 2021. Enter your place of destination. The returns relate to providing the names and addresses of new customers of the bank to the tax authority. one-time password has been re-sent. within 1-2 working days. Processing time for applications requires a minimum of 7 days. flights and all content that appears on our website is sourced from a GDS (Global This is important considering that CGT returns are to be filed at a six-month interval (i.e.,30 June and 31 December, depending on the period when a disposal is made). However, full relief should be granted where the proportion of non-taxable income does not exceed 20% of the companys total income. However, such attempt by the FIRS was faulted primarily on the premise that such requirement was not included in the VAT Act as part of the responsibilities of such NRCs. Opt out of all email from EY Global Limited. 2. that Be the first to receive exclusive offers and the latest news on our products and services directly in your inbox. testing also check the entry requirements of your destination country, as a quarantine period or mandatory Please contact us for further assistance. Folder, if you ca n't find the email in your inbox, check. 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