Taxation of High Net-Worth Individuals: Is this a chase after shadows?
The current economic landscape has forced several State Governments hitherto dependent on Federal Government allocations to look inwards for revenue. Personal Income Tax, especially those payable by high net worth individuals (HNWIs) is gradually attracting the attention of State Internal Revenue Services (SIRS). Against this backdrop, some SIRS are currently deliberating the tax revenue potentials of HNWIs.
NEPC resumes processing of baseline data for reintroduced Export Expansion Grant (EEG) Scheme
The Nigerian Export Promotion Council (NEPC) has resumed processing baseline data for the reintroduced Export Expansion Grant (EEG) scheme. This follows the earlier announcement by the Federal Government (FG) that the scheme would be reintroduced in the 2017 fiscal year.
Senate proposes Bill to repeal and re-enact Customs and Excise Act
The Senate of the Federal Republic of Nigeria is currently considering a Bill to abolish the fifty-eight-year-old Customs & Excise Management Act (CEMA) and five other Customs & Excise Laws. The Bill which is currently at the committee stage of the legislative process, seeks to enact a new Customs and Excise Act to establish the Nigeria Customs Service and restructure the administration and management of customs and excise in Nigeria.
The CMO shift to gaining business lift
Today’s CMOs see themselves as growth drivers, with a clear mandate from senior management to add value and impact revenue. But are they actually delivering?
Effective strategy planning for new leaders
When we interview CEOs and boards in preparation for Executive Transition Labs, we often hear they expect the newly promoted or incoming executive to be an effective strategist. Yet, in the lab, I frequently find that transitioning executives cannot clearly articulate the process for framing strategy at their company, and sometimes, the critical strategy choices of the company.
Decoding the path to purchase: Using autonomous analytics for customer mapping
You could be forgiven for being overwhelmed by customer data. Every minute, for example:
The key to successful delivery of Capital Projects in Africa
Delivering Capital Projects is a complex process that requires the effective integration of a number of variables. The successful delivery of such a project largely depends on frequent measurement of progress, evaluating plans and making adjustments where necessary.
FEC approves new bilateral tax treaty between Nigeria and Singapore
In the bid to facilitate more trade between Nigeria and Singapore, the Federal Executive Council (FEC) on Wednesday, 16 November 2016 approved a bilateral tax treaty between the two countries. A bilateral tax treaty, also known as double tax treaty (DTT), helps to eliminate the double taxation of income arising in either of the countries and paid to residents of the other. Meanwhile, double taxation is the levying of tax more than once on the same declared income, asset or financial transaction, often by two or more jurisdictions.
Culture shift: Changing beliefs, behaviors, and outcomes
Culture is like an iceberg. The part that can be seen above the waves reflects the isolated behaviors and outcomes that can surprise and sometimes frustrate incoming executives. The bulk of it, though, the submerged part, comprises the “shared beliefs and assumptions” that are often shaped over generations and can sometimes punch a hole through titanic corporate initiatives.
FRC issues National Code of Corporate Governance
The Financial Reporting Council of Nigeria (FRC) has issued National Codes of Corporate Governance (the Code) for the private sector, public sector and not-for-profit organisations in Nigeria. The Code, which is effective from 17 October 2016, was issued by FRC following a Federal High Court ruling that FRC has the powers to issue the Codes.