Details

Service: Tax
Type: Business and industry issue, White paper
Date: 1/16/2012

IMPACT OF NEW ACCOUNTING STANDARDS ON TAX IN NIGERIA(PART 2)

In Part 1 of this newsletter, we examined the uncertainties that may arise from adoption of the International Financial Repor t ing St andards ( IFRS) on classification of fixed assets for tax purposes. In this edition, we consider impact of IFRS and Statement of Accounting Standard 31 on Intangible Assets (SAS 31) on companies' ability to access fiscal incentives on fixed assets. The combined effect of the adoption of IFRS and SAS 31 may reduce the ability of companies to take maximum advantage of some of the fiscal incentives introduced into Nigerian tax laws. The incentives were meant to spur economic growth and development.

Download Now

IMPACT OF NEW ACCOUNTING STANDARDS ON TAX IN NIGERIA.pdf

PDF files require Adobe Reader to view

Download Adobe Reader

© 2013 KPMG, a Nigerian registered partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative, a Swiss entity. All rights reserved.

KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.