On the other hand, corporate taxes payable for each year of assessment includes the payable sums upon the profits of any company accruing in, derived from, brought into, or received in, Nigeria.
Under the 1999 Constitution (as amended), the right to own property is guaranteed.
Most businesses and enterprises are pioneered and propelled by natural human beings. However, for the purpose of common interest and expansion, businesses can also be advanced through artificial entities; companies or corporate bodies.
Nigeria is a heterogenous society with a growing population of over 200Million and modified liberal legal frameworks that now allow foreign participations in the local businesses. The Bilateral trade volume between Nigeria and China has reached over $12.03 billion, this significantly places Nigeria as the number one trading partner to China in Africa. What factors that underpin the various procedures that allow Chinese the opportunity to participate in trade or business is what this exercise undertakes.
