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Companies Income Tax (Rates etc., of Tax Deducted at Source (Withholding Tax)) Amendment Regulations, 2016 🇳🇬


Coat of Arms
Companies Income Tax Act, 1979

Companies Income Tax (Rates etc., of Tax Deducted at Source (Withholding Tax)) Amendment Regulations, 2016

  • Assented to on 9 November 2016
  • Commenced on 9 November 2016
  • [Up to date as at 23 November 2016]
In exercise of the powers conferred on me by section 81(8) of the Companies Income Tax Act Cap C 21 , Laws of the Federation of Nigeria, 2004 and all other powers enabling me in that behalf, I, KEMI ADEODSUN, Honorable Minister of Finance, Federal Republic of Nigeria, hereby make the following Amendment to the Companies Income Tax (Rates etc., of Tax Deducted at Source (Withholding Tax)) Regulations, 1997 :

1. Reversal of the Companies Income Tax Rates etc., of Tax Deducted at Source (Withholding Tax) Amendment Regulations 2015

The reduction in withholding tax rate from 5% to 2.5% provided under the Companies Income Tax {Rates etc., of Tax Deducted at Source (WithholdingTax) ) Amendment Regulations, 2015 is hereby reversed.

2. The rate at which tax shall be deduc…

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