Browsing: Tax

Designated Non-Resident Persons Tax Office, the notice clarified that a non-resident person refers to a foreign company as defined in the Companies Income Tax Act (Cap C2, LFN 2004 as amended) or an individual (who is resident outside Nigeria and derives income or profit from Nigeria) as defined in the Personal Income Tax Act (Cap P8, LFN 2004 as amended).

Speaking at a stakeholders’ meeting held at Lagos House in Alausa, Ikeja to sensitize owners of hotels, restaurants, bars and event centres in the State on the new regulation, the State Governor, Akinwunmi Ambode, said automation of the system was introduced to address the high level of under-payment and non-remittance of what is due to government, however, assuring that it would be a win-win situation for all parties.