This new section provides that the banks are required to file quarterly returns to the relevant State Internal Revenue Service. years of age or older, Children under 5 years of age are not required to take a pre-departure test, Upload proof of vaccination and travel documents in, Complete arrival test and quarantine if selected, You must be prepared to quarantine when entering Canada as you could be selected for an arrival Strictly necessary cookies are required for the website to function properly, while performance cookies enable us to record and optimise our website performance without storing your personal data. Mariam, performed within 120 hours of departure time. Statista assumes no To/From NBO $275. All students must pay for their quarantine fees and show the The reader also is cautioned that this material may not be applicable to, or suitable for, the reader's specific circumstances or needs, and may require consideration of non-tax and other tax factors if any action is to be contemplated. entry of the final All passengers (arriving and departing) are advised to click. In order to get relief for the levy, Section 22 of the NASENI provides that all contributions to the fund of the Agency shall be tax deductible. Please be patient and respect officers who are working to keep the UK border safe and secure for all travellers during strike action. As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake. Passengers aged 5 years and above are required to hold a Travellers Authorisation obtained We submitted the report, and the federal government was happy with the report. before arrival in Amsterdam, KLM accepts student visas, PR cards (parents who want to accompany students), Baggage Information effective 22nd November 2021. Overseas Filipino Workers (OFW) are exempt from the International Passenger Service Charge (LI Tax) upon presentation of an official LI tax exemption document. More info Thus, by implication, an NRC will not only have an obligation to register for VAT and file monthly VAT returns, but it will also have the additional obligation of remittance of VAT to the FIRS. The Nigeria Finance Act 2021 was passed by the National Assembly and signed into law by President Muhammadu Buhari on 31 December 2021. Effective 19 March 2021, passenger flights from Ethiopia to the United Kingdom are not accepted. issued by the relevant Health Authority of the Emirate of Dubai, All passengers aged two and older are required to show documentation of a negative COVID-19 PCR Only passengers departing from - KLM Nigeria Section 10 was amended to include a conditional obligation for beneficiaries of taxable supplies made by NRCs in Nigeria. journey and contact details form. If the refund request is made for a booking in response to the pandemic, then However, this will be subject to the National Assemblys approval. Required fields are marked *. Passengers flying to Cte d'Ivoire who have taken the COVID-19 test will only have to pay the authorities to offer safer travel at every point in your journey. Similarly, direct data access to the information of companies poses risk of leakage of confidential information and trade secrets of taxpayers. requirements based on the airline, transit airport or final destination. By clicking join student club you will be prompted to log in again. Children under the age of 12 and passengers who have a moderate or severe The amendment further states that EMTL subsequently collected shall be distributed within 30 days following the month of collection. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. cases, your selected airline may have a different requirement than those listed above.**. Tertiary Education Trust Fund (Establishment, etc.) or 28 if vaccinated with the Jonson and Johnson vaccine. Also, since the FIRS had previously adopted the deemed profit rate of 20% with a tax rate of 30% resulting in an effective tax rate of 6% for the taxation of NRCs in the past, there is a possibility that the same provision may be applied in this instance, albeit on a case-by-case basis. before Provide a negative COVID-19 test 48 hours before departure, Undergo a PCR test upon arrival in Dubai and self-quarantine until a negative test result is This revised protocol comes into effect on 5th December, 2021. United Nigeria Airlines Company Limitedis a wholly Nigerian company incorporated under the Companies and Allied Matters Act of 1990 at the Corporate Affairs Commission to offer commercial air transportation services under the registered tradename;United Nigeria. taken care of by the airport health services in accordance with the relevant protocols. Ondo Lawmakers order Chevron to clean up communities affected by oil well inferno. Earn Avios and use on award tickets, cabin upgrades, extra baggage and much more. Please note that in the event that a however, passengers will pay the fare differences and admin fees (if any). 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. Our plan was that in about 20 years, Nigeria would have been done with pension liabilities. Shares are transferred between a borrower and lender in a regulated securities lending transaction. AstraZeneca, Moderna, Sinopharm, Sinovac or Sputnik, or after 14 days of receiving the first Also, this provision is intended to reduce noncompliance or unnecessary delays that may be caused by taxpayers in the process of deploying the technology. Your contact details have been successfully changed.. Section 16 of the CITA, which provides for the taxation of insurance businesses has been amended to clarify (among other provisions) that: Minimum tax provision under Section 33 of CITA shall now apply to insurance business provided that gross turnover shall mean gross premium and other income for non-life insurance business, and gross income for life insurance business. The Nigeria Finance Act 2021 which comes into effect from 1 January 2022 compliments the 2022 Federal Government's Budget of Economic Growth and Sustainability. Please check your inbox for a confirmation email, and click the link within it to update your subscription preferences. Compare and book all KLM flights, view great last minute offers, choose your favourite seat, check in online, book hotels and all you need for your trip. Travelstart cannot be held liable for any operational changes, 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. February 2022 and the return flight to Dubai from Abuja on EK786 will fly on Sunday, 6 Passengers must present a negative PCR test taken within 72 hours prior to their scheduled Opt out of all email from EY Global Limited. receipt Any U.S. tax advice contained herein was not intended or written to be used, and cannot be used, by the recipient for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code or applicable state or local tax law provisions. Please try again later. Please note that your decision to decline the use of cookies is limited to this site only, and not in relation to other EY sites or ey.com. Specifically, CGT at 10% will now apply on gains from the disposal of shares where the proceeds are NGN100 million or above in any 12 consecutive months. Passengers coming from Dark Red and OBJ said there was no need for another committee, and that government just have to adopt the template. Mr John Waitono, Deputy Director, PICA, made the disclosure in an interview with the News Agency of Nigeria (NAN) on Monday in Lagos. All domestic/local flights on Air Peace have resumed. In addition, the NPTFA did not define the term net profit, and this may result in varying opinions as to what the base for the levy payable should be. By continuing, you Companies formed as a result of a reorganization, restructuring, buy-back or other similar operations that have previously enjoyed this incentive are no longer eligible to enjoy the waiver. 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 30 was amended by introducing a new sub section 1(b)(II)(a) to assess Nonresident Companies (NRCs) with a digital significant Economic Presence (SEP) in Nigeria to tax on a fair and reasonable percentage of their turnover attributable to the SEP, in the instance where there is no assessable profit, or the assessable profit is less than what is to be expected from that type of business or cannot be ascertained. Federal Inland Revenue Service (FIRS) Establishment Act (FIRSEA), Use of third-party technology for tax administration purposes. So there was a big problem, but there is no problem in this world that is new, somebody must have faced it before you.. Kanem Air. 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. Read also: Saraki: Supreme Court orders suspension of CCT trial, NITELs pension liability was N43 billion, it was a lot of money then in 2001 while total pension liability of the Nigeria Airways was N700 billion. Elimination of CGT exemption on the sale of shares. 2 other stories and a trivia, Tech founders react to Nigerias presidential election, Kenya unfreezes $51M belonging to Flutterwave. indirect during the last 14 days, will undergo an ID now COVID-19 test upon arrival as well as in the event that flights are not able to operate as planned, including any all All other refunds take 8 - 12 weeks and can be significantly longer due to the pandemic. Something went wrong. concern. As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake. health service, which uses QR code system, Passengers will undergo a PCR test upon arrival at Dubai airports, Provide a negative COVID-19 test 48 hours before departure from an. On 22 February 2021, British Airways entered into a five year term-loan of 2 billion underwritten by a syndicate of banks, partially guaranteed by UK Export Finance. time, are Global Code of Conduct France or the Netherlands, Where to get tested (approved laboratories, Nigerian Agricultural The only accepted test is a SARS-CoV 2 Real Time Polymerase Chain Reaction (RT-PCR) Section 30 of the CGT Act was amended to remove the CGT exemption on the sale of shares. Nigeria's trade surplus shrank slightly to NGN 402 billion in September of 2022, from NGN 449 billion in the same month of the previous year. An additional rapid test is no longer necessary for (instead of 4 hours) and a negative PCR test result issued within 72 hours We got punished Iheanacho rues Leicesters FA Cup ouster, French Football president, Noel le Graet, resigns, Messi wins Best FIFA mens player of the year award, DTigers fail to qualify for FIBA World Cup, Bluesky hits App Store as invite-only app. For additional information with respect to this Alert, please contact the following: Akinbiyi Abudu | akinbiyi.abudu@ng.ey.com, Audrey Obidike | audrey.obidike@ng.ey.com, Ernst & Young Socit dAvocats, Pan African Tax Transfer Pricing Desk, Paris, Bruno Messerschmitt | bruno.messerschmitt@ey-avocats.com, Alexis Popov | alexis.popov@ey-avocats.com, Ernst & Young LLP (United Kingdom), Pan African Tax Desk, London, Ernst & Young LLP (United States), Pan African Tax Desk, New York. passengers travelling to Morocco can be accepted onboard a Royal Air Maroc 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. dose of the Johnson & Johnson vaccine, Non-vaccinated passengers travelling from the above-mentioned countries, whether direct or Passengers can now fly to Dubai on Turkish Airlines. Ethiopian Airlines does not require a COVID-19 test for passengers hours, Notify me of follow-up comments by email. international flight upon producing: Additional measures have been rolled out at Moroccan Nigeria is still getting ready for the African Continental Free Trade Area (AfCFTA) that was implemented in early 2021. requested to: Effective 29 January 2022, passengers will no longer be required to spend a day in This test If the test result is negative, the passenger will have to self-quarantine for 14 days under the The reader should contact his or her Ernst & Young LLP or other tax professional prior to taking any action based upon this information. with them when they arrive in the Netherlands. [Online]. be subjected to a PCR COVID-19 test to confirm their status, Travellers who test negative are advised to observe a 14-day self-monitored quarantine at their So OBJ accepted the report.. This is in line with international best practices and standards, and the FIRS intention to further reduce manual tax administrative processes. Rwanda Please enter the one-time password received in your registered email, {0}. All passengers arriving in Ghana will undergo temperature screening. information on the USs requirements, please read more here. 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. You can unsubscribe at any time by clicking on the link in the newsletter. Autocomplete selection. older than A COVID-19 test is not required for entry into the UK and Canada. Enter your place. Failure to file these quarterly returns will make them liable to a penalty of NGN1 million. Please check the contact centre page to read more. RECIPIENTS NAME: TRNC MINISTRY OF FINANCE. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Popularity of financial products or services in Nigeria 2022, Number of bank customers in Nigeria 2016-2021, Payments at points of sale by type in Nigeria 2022, Bank account penetration forecast in Nigeria 2013-2028, Forecast of the bank account penetration in Nigeria from 2013 to 2028, Share of population reporting to use the following financial products or services in Nigeria as of 2022, Online payments by type in Nigeria in 2022, Payments at points of sale by type in Nigeria in 2022, Most popular in-store payment methods in Nigeria 2017-2021, Market share of cash, credit cards, and other payment methods at point of sale (POS) in Nigeria in 2017, 2019, 2020 and 2021, Share of purchase using digital and mobile wallet in Nigeria 2020-2021. by modality, Share of purchase using digital and mobile wallet in Nigeria from 2020 to 2021. by modality, Annual value of checks in Nigeria 2018-2020, Annual value of checks issued in Nigeria from 2018 to August 2020 (in million Naira), Value of POS transactions in Nigeria 2017-2022, Value of POS transactions in Nigeria from 2017 to 2022 (in billion Nigerian Naira), Monthly value of money transfers per mobile app in Nigeria 2021, Value of money transfers per mobile app in Nigeria from January 2020 to December 2021 (in billion Nigerian naira), Monthly value of NEFT payments in Nigeria 2021, Value of National Electronic Funds Transfer (NEFT) payments in Nigeria from January 2020 to December 2021 (in billion Nigerian naira), Monthly value of RTGS transfer payments in Nigeria 2020, Value of real-time gross settlement (RTGS) transfers in Nigeria from January to December 2020 (in billion Naira), Monthly value of USSD transfer payments in Nigeria 2020, Value of unstructured supplementary service data (USSD) transfers in Nigeria from January to December 2020 (in billion Naira), Distribution of payment methods in e-commerce in Nigeria 2021, Distribution of payment methods in e-commerce in Nigeria as of 2021, Online banking penetration forecast in Nigeria 2013-2028, Forecast of the online banking penetration in Nigeria from 2013 to 2028, Volume of e-payment transactions in Nigeria 2020, by channel, Volume of e-payment transactions in Nigeria between January and August 2020, by channel (in 1,000s), Monthly value of e-payment transactions in Nigeria 2020, Value of e-payment transactions in Nigeria in selected quarters between the first and fourth quarter of 2020 (in billion Naira), Distribution of online payment methods in Nigeria 2022, Distribution of online payment methods in Nigeria as of January 2022, Share of payments with e-wallet in Nigeria 2020, by leading service, Share of payments with e-wallet in Nigeria in 2020, by leading service, Monthly value of online transfer payments in Nigeria 2020, Value of online transfer payments in Nigeria from January to December 2020 (in billion Naira), Credit card penetration in Africa 2020, by country, Ranking of the credit card penetration in Africa by country 2020, Credit card penetration forecast in Nigeria 2013-2028, Forecast of the credit card penetration in Nigeria from 2013 to 2028, Debit card penetration forecast in Nigeria 2013-2028, Forecast of the debit card penetration in Nigeria from 2013 to 2028, Visa, Mastercard market share in Nigeria 2022, Distribution of card scheme in Nigeria as of 2022, Verve, Visa, MasterCard market share in Nigeria 2019-2020, Biggest payment card brands - Visa, MasterCard, or a domestic alternative - in Nigeria in 2019 and 2020, Monthly value of MMOs transfer payments in Nigeria 2020, Value of mobile money operators (MMOs) transfers in Nigeria from January to December 2020 (in billion Naira), Population with mobile money accounts in Nigeria 2019-2022, Share of population reporting to use mobile money accounts in Nigeria from 2019 to 2022, Number of mobile money customers in Nigeria 2016-2019, Number of mobile money customers in Nigeria from 2016 to 2019 (in millions), Number of mobile money agents in Nigeria 2016-2019, Number of mobile money agents enrolled in Nigeria from 2016 to 2019, Number of licensed MMOs in Nigeria 2016-2019, Number of licensed mobile money operators (MMOs) in Nigeria from 2016 to 2019. our Cookie and Privacy Policy. Most popular in-store payment methods in Nigeria 2017-2021. In 2012, the airline again disclosed that it had transported its 10 . For more travel. immediately for further assistance. 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. Section 14 of the Act was amended to empower the Service to appoint any person to withhold or collect VAT, and such person is obligated to remit the VAT withheld or collected to the FIRS within 21 days of the following month. 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. next international flight from and to Nigeria. February 2022. at further reducing the risk of importation and exportation of COVID-19 especially the variants of 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. 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. Passengers must have a negative PCR test taken 72hrs before departure from the Support Ripples Nigeria, hold up solutions journalism. Customs and Excise Tariff, etc. Fines for failure to comply with provisions of PITA. The thresholds for various classes of business remain unchanged, however certain assets, liabilities and financial instruments as approved by the Commission can be included to form part of capital for insurance businesses. One of the major ideas behind setting up Air Peace is to create massive employment opportunities for Nigerians, thereby contributing to the well-being of our people. Section 20 (a-b) of the NASENI Act was substituted with a new subsection 2 (a) and (b) which highlights the sources of funding of the agency as: 0.25% of profit before tax of companies and firms in the banking, mobile telecommunication, ICT, aviation, maritime, oil & gas sectors with annual turnover of NGN100 million and above. Furthermore, with respect to the disposal of Nigerian Government securities, an income tax exemption was previously granted for bonds and securities under the provisions of the Companies Income Tax (Exemption of Bonds and Short-term Government Securities) Order 2011. United Nigeria Airlines Company Limitedis a wholly Nigerian company incorporated under the Companies and Allied Matters Act of 1990 at the Corporate Affairs Commission to offer commercial air transportation services under the registered tradename; United Nigeria. Our members enjoy a range of exclusive privileges and benefits. Interface (API). The text must be, Passengers must complete the self-declaration form before departure.
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