– Ministry of Industry, Trade and Investment released guidelines for companies to enjoy income tax relief
– The companies to benefit from this are the companies making investments in industries designated as ‘pioneer’
The Ministry of Industry, Trade and Investment has released guideline document that provides the consideration for assessing application for pioneer status incentive from companies with investment projects and outlines the application process.
The Pioneer Status Incentive (PIS) is designed to reduce the cost of doing business in Nigeria by providing corporate income tax relief to qualifying companies making investment in industries designated as ‘pioneer’.
Below are the application guidelines for pioneer status incentive, as shared by Constance Ikokwu, the Strategy & Communications Adviser to the Hon. Minister of Industry, Trade & Investment, Dr. Okechukwu Enelamah:
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Guidelines for PIS. Photo credit: MITI
Guidelines for PIS. Photo credit: MITI
Guidelines for PIS. Photo credit: MITI
Below are the names of new industries added to the pioneer list.
List of new industries added to the pioneer list Photo credit: MITI
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Recall that ZENITHBLOG.com earlier reported that a three-year tax holiday was approved for 27 new industries and products, by the Federal Executive Council on Wednesday August 2,
The development was made public by the minister of industry, trade and investment Okechukwu Enelamah.
The minister disclosed that the move was made in order to enable the companies grow and expand.
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