Nigeria Tax Agency Issues Guidelines on Taxation of Holding Companies

The Nigerian Federal Inland Revenue Service May 11 issued guidelines explaining the taxation of holding companies in Nigeria. Topics covered include: 1) withholding taxes on dividends; 2) the exemption from commencement and cessation rules for when a holding company is formed as a result of restructuring; 3) the application of VAT and capital gains taxes resulting from the formation of holding companies; 4) the application of the minimum tax on the gross revenue of holding companies; and 5) stamp duties on various transactions. [Nigeria, Federal Inland Revenue Service, 05/11/22]

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