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. as published in your country of departure and arrival. We encourage all passengers eligible to use eGates to do so. FIRS to appoint VAT withholding/collection agent. (instead of 4 hours) and a negative PCR test result issued within 72 hours When an infant fare is booked, the infant will be seated on the parents lap. services. 6 billion entitlements to ex-workers of the defunct Nigeria Airways Ltd., was halted due to multiple verification by some of the beneficiaries. Passengers coming from Dark Red and FACT CHECK: How true is Adamu Garbas claim that Peter Obi failed to visit Muslim leaders in North? satisfied yourself on behalf of all passengers in the booking that you can proceed with the booking. issued by an approved laboratory in the country of departure. customers travelling to the USA from an international location to It further states that the amendment also provides that the FIRS may issue further guidelines to give effect to the provisions of section 10 of the VAT Act. All departing, arriving and transit passengers must complete the. Verified - Rapid Antigen - Self Test, See Covid-19 status and travel Some former retirees of the defunct Nigeria Airways who are currently receiving part of their pension recently approved by the Federal Government have been credited twice, Daily Trust has learnt. About 500 ex-Nigeria Airways staff are to be verified in another round of verification exercise currently going on simultaneously at Lagos and Kano centres. Travellers who are exempt from needing an ATV to transit through France and/or 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. with a valid UK visa or residence permit until 1 February 2021. will be paid for by Ethiopian Airlines, Both test results upon departure and in transit will be authenticated by Chinese Section 33 was amended to further extend the coverage of the reduced minimum tax rate of 0.25% by one year, i.e., to include financial year 2021. Mr John Waitono, Deputy Director, PICA, made the disclosure in an interview with the News Agency of Nigeria (NAN) on Monday in Lagos. Contact Us Head Office : 25 Sobo Arobiodu Street GRA, Ikeja, Lagos, Nigeria. When departing Senegal, testing will only be required for passengers travelling to countries The passenger must undergo a COVID-19 PCR test on day 7 and 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. Nevertheless, it is unclear whether the first-mentioned guideline will be implemented as no additional update has been released by the FIRS in this regard; and there is a risk that the FIRS may maintain that the provisions of the guideline become effective from 1 January 2022. travel restrictions that may be imposed. Please try again later. This revised protocol comes into effect on 5th December, 2021. For tickets affected by flight cancellation in response to the pandemic, the ticket can remain However, such exemptions have lapsed effective 1 January 2022. All passengers arriving in Nigeria are expected to provide evidence of and comply with the hours, This considered the practicality issues around VAT collection for such transactions and the potential tax revenue leakage. at the Hubs airports. Fully vaccinated Nigerians with tourist visas can fly to Canada. To/From NBO $325. Effective 6 December 2021, the following rules will apply to all passengers travelling to the Ernst & Young LLP assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information contained herein. will be You can change your preferences, click. the form via Delta Air Lineswebsite. You will now logged out of your Privilege Club account. This amendment clarifies that as part of personal income tax relief, premiums paid to an insurance company in respect of a contract for a deferred annuity on the life of an individual or that of his spouse are not allowed as a tax deduction. they are working with government agencies, health officials and aviation With respect to the applicability of Tertiary Education Tax (TET) on profits earned by educational institutions, although the TET Act was not expressly amended to reflect such treatment, it appears that such profits should also be subject to TET as the TET rules state that the determination of assessable profits on which TET should be applicable is to be determined/reflective of such amount as computed per the CITA provisions. be 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. The Dutch Minister of Justice and Security has waived the requirement for transit at Schiphol Airport for Nigerian nationals (only) with a valid UK visa or residence permit until 1 February 2021. The definition of a real estate investment company has been amended by the Act to mean a company duly approved by the Securities and Exchange Commission as a Real Estate Investment Regime in Nigeria. In some select first embarkation point. Also, for small and medium sized companies, any unabsorbed capital allowances at the end of a tax year are to be deemed fully absorbed in such year. FACT CHECK: Was Tinubus convoy stoned in Rivers State? The Presidential Initiative on Continuous Audit (PICA) has said that payment of the approved N22. Opt out of all email from EY Global Limited. 2 other stories and a trivia, #NigeriaDecides2023: How technology is reshaping politics and electoral process in Nigeria, Naira gains 0.14% as forex reserves drop by $331.08m in one month, Naira closes same rate at official market against US dollar, Naira loses value at official market after election, Value of Naira appreciates ahead of election, Naira falls again to US dollar, as report predicts N900/$. One of such persons, whom I am aware of, said he did not trust the verification he did in Kano and that was why he did another one in Lagos.. Based on this amendment, capital allowances claimable on QCE utilized for generating taxable and non-taxable income shall be prorated such that only the portion relating to taxable income should be allowable as a tax relief. 2 other stories and a trivia, #NigeriaDecides2023: How technology is reshaping politics and electoral process in Nigeria, Naira gains 0.14% as forex reserves drop by $331.08m in one month, Naira closes same rate at official market against US dollar, Naira loses value at official market after election, Value of Naira appreciates ahead of election, Naira falls again to US dollar, as report predicts N900/$. Copyright 2021 Ripples Nigeria. Udo Udoma Avenue, Uyo, Akwa Ibom State, Nigeria +234 (0) 814.272.1159 To/From Rest of World $425. How to apply for an airport transit visa (ATV): CGT will apply proportionately on the portion of sales proceeds not reinvested. You need to earn {tierRenewalPoints} Qpoints to retain your current tier. Ground Floor, Akwa Ibom State Secretariat Annex. Approved quarantine hotels include Hotel to the USA: Delta is partnering with the Centers for Disease Control and Prevention country of departure and arrival, that may affect your booking and that you have 48 hours before departure, The negative COVID-19 PCR test must be from a Nigerian, B1/B2 tourist visa holders to USA cannot travel with Lufthansa due to US entry restrictions. In a statement, the Edo State Commissioner for Local Government Affairs . Subsection (4) of the PITA was amended by increasing the penalty should a bank fail to file these returns to NGN1 million. By clicking 'Yes, I accept' you agree and consent to our use of cookies. Please enter the one-time password received in your registered mobile number, {0}. As summarized above, NRCs engaged in digital transactions can be charged to tax by the FIRS on a fair & reasonable percentage of their turnover subject to such company having a Significant Economic Presence in Nigeria. voluntarily provide five pieces of data to aid contact tracing and indirect during the last 14 days, will undergo an ID now COVID-19 test upon arrival as well as This doesnt apply to passenger with By booking the selected flight with us, you are not accepted. will be quarantined at a governmental hospital at their own cost, Non-vaccinated passengers arriving from India, Bangladesh, Pakistan, Bhutan, Myanmar, Nepal, Clicking on the following button will update the content below. Back to login. All rights reserved. Pensioners of the now-defunct Nigeria Airways are currently protesting the non-payments of their entitlements by the Federal Government. Hubs airports. listed above.**. Infants don't get their own seat on the plane, they will travel on your lap. This amendment changes the subject being charged with a penalty from a person who engages in banking to the bank itself, while also increasing the penalty from NGN500,000 for a body corporate and NGN50,000 for an individual to NGN1 million. However, the Federal Government of Nigeria took a remarkable step in changing the pension landscape through the enactment of the Pension Reform Act (PRA) in 2014. that Federal Inland Revenue Service (FIRS) Establishment Act (FIRSEA), Use of third-party technology for tax administration purposes. Need help with your booking? Reduction in the time period to pay TET. Airport, Passengers that test positive will not be boarded, A negative COVID-19 PCR test taken 48 hours before departure, A duly completed and signed passenger health form; download here. The only accepted test is a SARS-CoV 2 Real Time Polymerase Chain Reaction (RT-PCR) However, based on this amendment, such NRCs may be subject to income tax on a deemed profit basis at the discretion of the FIRS, to the extent that their actual profits cannot be readily and reflectively computed, i.e., the decision to opt for the deemed income basis of taxation by the NRCs should not be automatic. email and we will assist you to book a COVID-19 test. We are happy to help. 2017 If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause. We will countries are now permitted to the airports in the Emirate of Dubai. Dubai. The workers were paid a fraction of their entitlements by the late President Umaru YarAduas regime in 2008 before President Muhammadu Buhari recently approved the part payment of N22. arrival, Travellers arriving in Gambia from red list countries will be subjected to a rapid diagnostic Overseas Filipino Workers (OFW) are exempt from the International Passenger Service Charge (LI Tax) upon presentation of an official LI tax exemption document. Thus, based on the expiration of the order, short-term government securities should now be subject to Company Income Tax (CIT), while long-term government securities should continue to be exempt from CGT. done in one of Clarity should be provided on the conditions for approval of subordinated liabilities and other admissible assets stated in this section. Are you travelling out of Nigeria and need to get a COVID-19 test? I agree to the terms and conditions of the Privilege Club Programme. Section 25 of the FIRS (Establishment) Act has been amended to allow the use of third-party technology for tax administration purposes, upon providing a 30-day notice to the concerned taxpayer. Among them The national vice chairman of the ex-workers union of the Airways, (north), Mr Mohammed Adamu who disclosed this, said that most of the eligible workers had been audited and paid 50 per cent of. The Minister of Finance is now empowered to make regulations for the auditing, accounting, allocation, and distribution of stamp duties and EMT levies received between the 2015 and 2019 fiscal years, subject to National Assembly approval, and all stamp duties and EMT levies collected going forward. Nigeria is still getting ready for the African Continental Free Trade Area (AfCFTA) that was implemented in early 2021. This will serve as a benefit to the taxpayer as they are able to recover 32.5% of the levy contributed. This is important considering that CGT returns are to be filed at a six-month interval (i.e.,30 June and 31 December, depending on the period when a disposal is made). So, now we have collated all the information in one place from the three centres. He said: What happened was that the first batch was to commence payment but when we went through the system, we discovered that some persons have done the same exercise in Enugu and Lagos or Kano and Lagos. test on arrival at his or her own costs. Passengers must have a negative PCR test taken 72hrs before departure from the certificate must be in English and must specify: the name of the certified laboratory at which the test was completed. for COVID-19 at the Banjul International Airport, Travellers who test positive following the rapid diagnostic test at Banjul International Our site uses cookies that are essential, while others help us to improve your experience. other expenses at the various airports. 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. A COVID-19 test is not required for entry into the UK, or Canada. might be a requirement when flying from Nigeria. Nigerian Police Trust Fund (Establishment) Act (NPTFA). USA or any European countries (in addition to a UK visa/residence permit). designated as low-risk, and quarantine measures in place, visit the Ministry of Public Health These countries are Section 1(2) of the TETFA was amended by increasing the rate of Tertiary Education Tax (TET) from 2% to 2.5% and it exempts small companies (as defined under the CITA), from TET. flights and all content that appears on our website is sourced from a GDS (Global Ethiopian Airlines does not require a COVID-19 test for passengers 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. 2 other stories and a trivia, Tech founders react to Nigerias presidential election, Kenya unfreezes $51M belonging to Flutterwave. As such, it is expected that the FIRS will issue a guideline to provide further guidance on compliance obligation of taxpayers with respect to this Act and the timing for payment of the levy. Ethiopian Passengers can make payment by using Verve card from Nigeria. own cost for a period of 10 days. OBJ said there was no need for another committee, and that government just have to adopt the template. immediately for further assistance. Since 16 March 2021, KLM has resumed operations in Lagos. Hotspot countries identified by the Ministry of Health are: To enter or transit through Germany, passengers must have a negative COVID-19 PCR test not To be considered fully vaccinated: If not vaccinated or partially vaccinated: List of - 2023 PwC. By clicking join student club you will be prompted to log in again. The increase of the penalty payable by the bank is intended to ensure that banks are more diligent during the know your client (KYC) and information gathering process which in turn would ensure that the quality of data submitted by the banks to the tax authorities is correct and in the required format. Failure to file these quarterly returns will make them liable to a penalty of NGN1 million. required to: Have a negative COVID-19 PCR test based on: Passengers may be required to take a second COVID-19 test in the transit airport or at Does your current profile name match the name in your passport? Passengers flying to South Africa should be aware of the following: Effective 29 January 2022, inbound and transit passenger(s) operations from any of the Passengers will present a negative COVID-19 test certificate that is issued Section 49, subsection (2) of the PITA was amended to instruct banks to file the referenced returns (i.e., submit names and addresses of new customers as stated in subsection 1) quarterly. Section 94 of the PITA was amended to increase the fine for failure to comply with provisions of the PITA where no penalty was specifically provided, from NGN5,000 in the first instance and NGN100 per day of continuous default to NGN20,000 and NGN2,000, respectively. A further sum of NGN2,000 for every day during which the failure continues, will be applied. test on arrival. Exports declined by 11.9% year-on-year to a nine-month low of NGN 1,795 billion, mainly dragged down by lower shipments of crude oil (-6.9%), manufactured products (-79.1%), energy products (-86.4%) and solid minerals (-37.1%). Arriving passengers will be required to register for monitoring via USSD and Mobile App. Where the taxpayer further default payment, such person will be liable to an imprisonment of six months, in addition to the liability so owed. All passengers arriving in Ghana will undergo temperature screening. Opt out of all email from EY Global Limited. A negative PCR test is required for entry into Dubai and China. Whether you are from the North, South, East or West, we work deligently to meet your expectations. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 600+ segments in 150+ countries, Insights on consumer attitudes and behavior worldwide, Business information on 60m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. To/From Rest of World $325. 11 August 2021 Reuters Oil giant Shell will pay a Nigerian community $111m (80m) over an oil spill more than 50 years ago. Be the first to receive exclusive offers and the latest news on our products and services directly in your inbox. are temporarily suspended. international flight upon producing: Additional measures have been rolled out at Moroccan attestation form before they will be accepted to travel. Tertiary Education Trust Fund (Establishment, etc.) Anambra PortHarcourt Enugu Owerri Bayelsa Asaba Lagos Abuja Warri / Osubi Commissioning of the New Runway at Akanu Ibiam International Airport, Enugu News and Update If you are travelling on KLM and are a Nigerian National, you do not need an ATV until 1 February 2021. possible that there is a delay in the GDS or Airline system updating to accommodate Required fields are marked *. flights from Nigeria. It launched in 2022, is based at Maiduguri (MIU . entry into the Netherlands, however, exceptions are permitted. However, such application can be challenged on the basis that the circular was issued before the enactment of the Finance Act, as such, it should be null and void until another guideline is issued pursuant to the Finance Act. It launched in 2021. Undergo a PCR test upon arrival in Dubai and must remain in self-quarantine until a The requested benefits allocated successfully,

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To recognize your loyalty, we have restored your expired Avios and reinstated your tier status. Children under the age of 12 and passengers who have a moderate or severe - KLM Nigeria online via Contact us by email stating the error that was made on the ticket. The Presidential Initiative on Continuous Audit (PICA) has said that payment of the approved N22. BPE was only trying to find the solution to the pension arrears, so we pleaded for time to study the pension problem. vaccinated Section 33 of the PITA was amended to clarify that only premiums paid to an insurance company by an individual for his/her life or the life of his/her spouse during the year preceding the year of assessment will be allowed as a deduction. Fly to your preferred destinations at the best fares, Indoctrination/Training of United Nigeria Staff, Arrival and Inspection of United Nigeria Ariplane, Departure of The First United Nigeria Airplane To Nigeria. Saturday, 5 February 2022 and the return flight to Dubai from Lagos on EK784 will fly service agent is able to action the request, the ticket may be cancelled and a new booking done Our mobile app is equipped with personalised offers, seamless booking functions, in-app passport and payment card scanner, journey tracking, numerous payment options and much more. Specifically, educational institutions should consider this amendment and be aware of their tax obligations as provided in the various tax laws going forward. Section 23 (q) which provides for the exemption of export profits was amended to clearly exclude companies engaged in the upstream, midstream, and downstream petroleum operations from such exemption. 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. on the preferred airline with the same funds less any additional charges utilized if it is Global Code of Conduct Please update and save your contact address.