Taxation of Non-Resident Companies Under the Finance Act 2021 : Challenges and Opportunities
The world today has become a global village and commercial transactions can be carried out from one end of the globe to the other without the need for physical presence, thanks to the unprecedented technological growth and innovations of recent decades. With the even recent developments in cryptocurrency transactions, global commerce has been enhanced even the greater. These have had—and continue to have—the effect of impacting on the economy of nations of the world in levels heretofore not contemplated. As technology advances at a neck-breaking speed, governments are forced to respond by introducing policies and legislations that attempt to arrest the new realities in order to maintain and/or promote economic growth and development. Premised on this, the Nigerian government has since the past three years enacted Finance Acts that amend various tax legislations in order to achieve economic growth and development. One of such Acts, the relatively recent Finance Act 2021, has necessitated this article.This article evaluates the Finance Act 2021 as it affects taxation of Non-resident Companies (NRCs) or Multinational Enterprises (MNEs) within the Nigerian context. It specifically highlights the opportunities for revenue from the taxation of these Companies/Enterprises and the challenges their operations pose to the tax authorities. It concludes by making recommendations to navigate those challenges
Year of publication: |
2022
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Authors: | Onyeneke, Chinyere ; Elolue, Bright |
Publisher: |
[S.l.] : SSRN |
Subject: | Großbritannien | United Kingdom | Steuerrecht | Tax law |
Saved in:
freely available
Extent: | 1 Online-Ressource (9 p) |
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Type of publication: | Book / Working Paper |
Language: | English |
Notes: | Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments September 25, 2022 erstellt |
Other identifiers: | 10.2139/ssrn.4228834 [DOI] |
Classification: | K34 - Tax Law |
Source: | ECONIS - Online Catalogue of the ZBW |
Persistent link: https://www.econbiz.de/10014029955
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