Nigeria granted 34 companies three years tax exemption in 2023 ...Middle East

At a press briefing in Abuja, Lovina Kayode, head of incentives administration, NIPC disclosed that the pioneer status incentive (PSI) is a tax holiday that grants qualifying industries and products relief from payment of corporate income tax for an initial period of three years, extendable for one or two additional years. The disclosure comes in the wake of ongoing debates surrounding tax incentives and the huge revenue loss attributed to annual waivers. However, she noted that not all companies are granted the incentives due to stringent procedures followed by the commission on waiver awards.

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Nigeria granted 34 companies three years tax exemption in 2023 ...Middle East

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