The informal sector in any nation refers to the group of unstructured businesses that generally provide casual employment and income. According to industry reports, this sector of the economy remains largely untaxed. Learned silk, Oyetola Atoyebi, SAN discusses how the country can tap into the untold treasures existing if she taxes her informal sector.
Although blockchain is predominantly utilised in the financial sector today, its value is noticeably more, being that it is widely associated with cryptocurrencies. Similarly, as an integral part of the effective functioning of the state, the quest for bettering and improving taxation is infinite. This paper sets out to examine blockchain and its design while exploring its potential for the tax economy.
“Eneke the bird says that since men have learned to shoot without missing, he has learned to fly without perching”. Chinua Achebe, Things Fall Apart. Nigeria’s fledgling fintech industry has recorded a number of successes in recent years. In 2019, foreign direct investments in Nigeria’s fintech space grew to $460,000,000 (Four Hundred And Sixty Million […]
BY IBRAHIM USMAN WALI Many global corporate arrangements and rearrangements today are technologically concentrated. Start-ups and corporates alike are being purchased and sold solely for their tech substance. In the tech sector, particularly software, the bulk of proprietary rights are intangible, thereby making them Intellectual Property assets. Just like tangibles, Intellectual Property rights in software […]
Introduction As home to 54 countries and many growing economies, Africa has over time become an attractive investment destination. Statistics show that foreign direct investments to Africa stood at $32 Billion in 2019.[1] In the same year, mergers and acquisitions deal value stood at $21 Billion and deal volume peaked at 365.[2] This commendable surge […]
In this brief primer, we will discuss the concept of securitization and the basis for their use, as well as their impact on the economy. 1.0 The Concept of Securitization Securitization is well established and practised in the global debt capital market. Some sources describe it as the practice where issuers merge different financial assets […]
Without contradiction, over the past decade, Financial Technology (FinTech) has dominated the landscape of the Nigerian market place, having carved a niche for itself by disrupting the traditional methods of conducting business transactions. Many disruptions that have taken place within this terrain have most undoubtedly warmed their way into the hearts of many Nigerians and […]
By: O. M. Atoyebi, SAN The world has never been more ignited in recent times for survival than at the end of 2019 and the launch of 2020 through to the mid-year and still counting. For many, the outbreak of the COVID-19 pandemic projected a rather unannounced arrival of end-time. While the world is still adjusting to the disease and fighting to curb it, unfortunately, COVID-19 has triumphed in disrupting the entire […]
The infrastructure and real estate construction industry in Nigeria holds the potential for contributing massively to the growth of the economy, both in terms of GDP and employment generation. The reason is not farfetched- her population. Nigeria has an estimated population of 200 million people majority of which are youths. However, in Nigeria, there is […]
Section 4 of the Finance Act (FA) 2019 amends Section 13 of the Companies Income Tax Act (CITA). The amended section 13(2) deals with the taxation of nonresident companies (NRCs) i.e. companies that transact businesses in Nigeria other than Nigerian companies. Section 13 taxes four categories of NRCs viz: a company that has a fixed […]
