Export Processing Zones – NBC Institute

AT – Nov 2014 – L3 – SB – Q2 – Tax Incentives and Reliefs

Prepare a presentation discussing objectives of tax incentives and benefits in Export Processing Zones for German investors.

Question

Your firm has been commissioned by the Nigerian Business Forum to present a thirty-minute paper at a seminar organised for some German Investors who wish to establish in certain sectors of the Nigerian Economy.

The Nigerian Business Forum made your task very easy by narrowing down your submissions to the available tax incentives which may be enjoyed by business establishments within Nigeria.

Based on the discussions between the Managing Partner and the Chairman of the Nigerian Business Forum, the following areas which should serve as guide for your presentation were highlighted:

Objectives of Tax Incentives
Available Tax Incentives in the Export Processing Zones in Nigeria

The Managing Partner is currently on six weeks annual leave abroad and has asked you to review the above using the guidelines provided.

You are well trained to use Power Point Microsoft Application to present this kind of report to the select group. This means that the presentation must be outlined in clear terms because of the limited time available.

You are required to prepare your presentation to cover:
a. Introduction (2 Marks)
b. Objectives of Tax Incentives (4 Marks)
c. Tax Incentives for companies operating within the Export Processing Zone (14 Marks)

(Total 20 Marks)

Answer

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Tags: Business Establishments, Economic Development, Export Processing Zones, Tax Incentives
Level: Level 3

Topic: Tax Incentives and Reliefs
Series: NOV 2014

TAX – May 2023 – L2 – SC – Q7 – Tax Incentives and Reliefs

Explain tax incentives and penalties for enterprises in export processing zones.

Question

The Federal Government in a bid to further boost the growth in foreign exchange earnings, create new jobs, facilitate economic diversification, industrialization, and provide access to foreign technology, came up with its export processing zones (EPZs) policy.

EPZ is regarded as a customs area where an enterprise is allowed to import plant, machinery, equipment, and raw materials, process them, and then export them to the world market, under security and without paying duty.

To facilitate a better understanding of the above assertions, the Managing Director of a would-be client approached you for explanations of the relevant provisions of the Nigerian Export Processing Zones Act Cap. N107 LFN 2004 (as amended) and Companies Income Tax Act Cap. C21 LFN 2004 (as amended).

Required:

a. Discuss SIX special tax incentives for enterprises operating in an export processing zone. (12 Marks)

b. Explain the penalties for non-compliance with section 55(1) of CITA (as amended). (3 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: CITA Penalties, Export Processing Zones, Foreign Investment, Tax Compliance
Level: Level 2

Topic: Tax Incentives and Reliefs
Series: MAY 2023

AT – Nov 2014 – L3 – SB – Q2 – Tax Incentives and Reliefs

Prepare a presentation discussing objectives of tax incentives and benefits in Export Processing Zones for German investors.

Question

The Nigerian Business Forum made your task very easy by narrowing down your submissions to the available tax incentives which may be enjoyed by business establishments within Nigeria.

Based on the discussions between the Managing Partner and the Chairman of the Nigerian Business Forum, the following areas which should serve as guide for your presentation were highlighted:

Objectives of Tax Incentives
Available Tax Incentives in the Export Processing Zones in Nigeria

The Managing Partner is currently on six weeks annual leave abroad and has asked you to review the above using the guidelines provided.

(Total 20 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Establishments, Economic Development, Export Processing Zones, Tax Incentives
Level: Level 3

Topic: Tax Incentives and Reliefs
Series: NOV 2014

TAX – May 2023 – L2 – SC – Q7 – Tax Incentives and Reliefs

Explain tax incentives and penalties for enterprises in export processing zones.

Question

Required:

a. Discuss SIX special tax incentives for enterprises operating in an export processing zone. (12 Marks)

b. Explain the penalties for non-compliance with section 55(1) of CITA (as amended). (3 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: CITA Penalties, Export Processing Zones, Foreign Investment, Tax Compliance
Level: Level 2

Topic: Tax Incentives and Reliefs
Series: MAY 2023

Question Tag: Export Processing Zones

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AT – Nov 2014 – L3 – SB – Q2 – Tax Incentives and Reliefs

Prepare a presentation discussing objectives of tax incentives and benefits in Export Processing Zones for German investors.

TAX – May 2023 – L2 – SC – Q7 – Tax Incentives and Reliefs

Explain tax incentives and penalties for enterprises in export processing zones.

AT – Nov 2014 – L3 – SB – Q2 – Tax Incentives and Reliefs

Prepare a presentation discussing objectives of tax incentives and benefits in Export Processing Zones for German investors.

TAX – May 2023 – L2 – SC – Q7 – Tax Incentives and Reliefs

Explain tax incentives and penalties for enterprises in export processing zones.

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AT – Nov 2014 – L3 – SB – Q2 – Tax Incentives and Reliefs

Prepare a presentation discussing objectives of tax incentives and benefits in Export Processing Zones for German investors.

You're reporting an error for "AT – Nov 2014 – L3 – SB – Q2 – Tax Incentives and Reliefs"

TAX – May 2023 – L2 – SC – Q7 – Tax Incentives and Reliefs

Explain tax incentives and penalties for enterprises in export processing zones.

You're reporting an error for "TAX – May 2023 – L2 – SC – Q7 – Tax Incentives and Reliefs"

AT – Nov 2014 – L3 – SB – Q2 – Tax Incentives and Reliefs

Prepare a presentation discussing objectives of tax incentives and benefits in Export Processing Zones for German investors.

You're reporting an error for "AT – Nov 2014 – L3 – SB – Q2 – Tax Incentives and Reliefs"

TAX – May 2023 – L2 – SC – Q7 – Tax Incentives and Reliefs

Explain tax incentives and penalties for enterprises in export processing zones.

You're reporting an error for "TAX – May 2023 – L2 – SC – Q7 – Tax Incentives and Reliefs"

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