An investigation by a legislative committee will examine “pioneer status” issues.
“Pioneer status” is a fiscal incentive offered to companies operating in designated pioneer industries and or producing pioneer products, and can provide an income tax holiday for up to five years. In addition to income tax holiday, pioneer companies enjoy other benefits such as the exemption of dividends paid out of pioneer profits from withholding tax.
Read a May 2017 report [PDF 151 KB] prepared by the KPMG member firm in Nigeria
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