₦airaland Forum

Nigeria’s Excess Dividend Tax Explained
Ashabi Vincent
Summary

1.There may significant reductions in dividend pay outs in the coming future. In a recently concluded case between a leading company in Oil and Gas Sector and FIRS, the Tax Appeal Tribunal judgement infers that profits of Nigerian companies will be subjected to CIT twice.

2.This is based on a new interpretation of the Excess Dividend Tax (EDT) that companies are liable to pay. EDT basically means companies are liable to pay tax when their dividend payout is higher than the taxable profits declared.

3.Dividend payout can be higher than taxable profits if the company decides to pay dividend out of past profits (retained earnings)

4.Though we understand that this judgment is to be appealed, it may be advisable for companies seeking to pay dividends out of their retained earnings to ensure that such dividends do not exceed their taxable profits for the year in which the dividends are paid out. This should be done pending the resolution of this dispute.
The basis of the

http://nairametrics.com/this-tribunal-ruling-is-likely-to-change-the-way-dividends-are-paid-in-nigeria-forever/

Oando slips below N5.00

The AnalystNG
‏@TheAnalystNG
12:21PM #Investors sustain SELL-POSTURES, @NSEcontact down by 0.18% on Falling risk appetite in afternoon session

The AnalystNG
‏@TheAnalystNG
12:06PM OFFICIAL! Morning session ends NEGATIVE with N16.02bn LOSS, @NSEcontact Down by 0.17% trading at 27,403.00bpts, 3Gainers Vs 5Losers

Some form of trading(ANALOG) is going on.

locodemy:
is this problem from the trading machine or from where?

It's from the NSE servers, all my brokers are currently offline.

But i suspect some ANALOG trading might going on, don't ask me why and how.

When Digital trading is down, what will ANALOG TRADERS be doing.

zendi:
And gluttons consume the money they should invest.

That's why we are here https://www.nairaland.com/1131485/nigerian-stock-exchange-market-pick discussing Dangote Flour stock instead of Dangote Rice

obailala:
The people on this thread blaming Oby or anybody for campaigning for the release of the kidnapped girls must be brain dead. How can normal humans be this congenitally stuupid?... Since when has calling for the release of kidnapped people become a crime or dishonorable thing?.. Because it affected the credibility of your political hero?... By devil's grace your own daughters would be kidnapped and I would love to watch as you accuse and insult people calling on the government to do something.

No amount of blackmail form your likes can hide the truth.

Lots of girls are kidnapped from the north, but Oby and co choose to focus on Chibok girls for reasons unknown to us.

An educated Oby should have known that campaigning cannot bring back those girls.

The day Nigerian stop thinking along APC vs PDP lines, that day we start moving forward.

TonyeBarcanista:
Baba, you can't rule out the fact that these terrorists have intelligent wing that usually play both sides to ensure that the "business" continue. From her statements I spotted LIES and INCONSISTENCIES.

She is a TErrorist along With Silkida and others...

And why didn't the Army detain her and sue her for terrorism.

I am waiting for the Military to deny they have been with her, during this period.

tolastikha:
The case of the State vs James Ibori is very relevant in this case under consideration. Federal Court Appeal did aver that no name is human being's name until it is accompanied with first and middle names.

Buhari as a name is never sufficient for someone to allege that the other name his dog after him.

Correct.

But ironically, this open up debate about Aisha Bahuri (home and abroad).

DaStunz:
No body was kidnapped. Its a pure scam.

People were kidnapped, and many have been rescued.

But Oby and co deliberately focus on Chibok kidnapped girls alone, for reasons know to them alone.

zendi:
[s]
the good news is more relevant to your food budgeting than to your dangflour jijo[/s].

Hungry people, don't have any business investing in stocks.

TonyeBarcanista:
Terrorism is a very serious business and this woman knows it. Forget her story baba

But you know that everything in terrorism and militancy is not black and white.

You must always have people who can talk to people on ground, that's why mediators are needed.

The same rules was applied for Niger Delta militancy.

TonyeBarcanista:
The Woman is a TERRORIST, and her story is fable

I thought you are more knowledgeable than this.

This woman is a mediator, and that's how they operate world wide.

This woman is not running, she has been to the DHQ and she is still walking.

henry007:
Infinix Launch was lit yesterday. I thought i'd leave y'all my unboxing video and quick comparison with the Infinix Note 2 from last year. Whether or not you should upgrade is up to you to decide. The version i unboxed retails for N54,700.

Remember to hit Like/Subscribe if you like the video.

Happy watching!


https://www.youtube.com/watch?v=yCsy9lSYDN0

Guy next time do your reviews on a table.

How will this news impact on Dangotes flour stock.


https://www.nairaland.com/3313784/dangote-rice-hits-nigerian-market

godlyguy:
I'm ready to continue bailing out SKYE BANK until it gets to my targeted sell price... I got additional more than a million units of First Bank on Friday... I have equally set a sell target for First Bank!!!

THE BIG SMART GUY

Set your First Bank sell target to 2.00
Will be ready to buy your one million units at that price .

agarawu23:
I would have love to read your link but what happen underground isn't written in that article and we both know that.

When politicians use manufacturers that have access to forex from CBN to get dollars, will they tell u/me?

Dont forget our discussion Is on forex in our foreign reserve

Foreign reserves are used for stabilizing the Naira and not for awarding contracts.

The same Foreign reserves, had been reducing since APC came to power, because the CBN is using it to stabilize the Naira.

Before TSA, MDAs are not obligated to remit all their revenue to the CBN.

agarawu23:
yeah! I know that.

But are u telling me the forex came from the street at 230/$?

Why were dey paid in $ in the first place if their intention wasn't to loot.

These govt officials get forex from CBN illegally.

They don't need to get the forex from CBN.

Not all crude oil proceed are remitted to the CBN.

NOTE: Crude oil proceed are in Dollars.

Read.
http://www.premiumtimesng.com/business/209318-real-reason-cbn-barred-9-banks-forex-trading.html

agarawu23:
teach me what foreign reserve is Mr teacher.

Forex looted by dasuki and co came from where?
You think these govt officials bought forex from aboki's on the street?

These set of ppl gat illegal means of getting dollars from CBN and can you please explain to me where CBN get forex they sell.

LOL.

Money allegedly looted by Dasuki and co, were funds allocated to the for specific projects.

CBN is not the only legal sources of dollars in Nigeria.

LMFashions:
Quotasystem this bros just asked a question, can u help him out pls?

Thanks

Just ignore that boy.

The Embassy claimed they met with Christian and Muslim leaders in Sokoto.

But how many Christian leaders were at the meeting.

Nigerians are not that foolish.

Deputy spokesman for the US embassy in Abuja, Mr. Larry bhachu made it clear that CAN statement is baseless and groundless, emphasizing that John
Kerry visited Sokoto to discuss with the followers of
Islam and Christianity on how develop Religious tolerance, and to overcome extremism among followers of different religions.

So who are the followers of Christianity at the meeting held in Sokoto.

MadCow1:
The foreign Media will forget to mention this as the cause when the matter causes a riot or mayhem.
I wonder why the Police even set him free?
And the Judge that set his bail at 50,000 is a Nama.. Why not 500,000..

What riot and Mayhem are you talking about.
Is the President the only one with the name Buhari.
This is the SW and intolerance in not allowed here.

locodemy:
Skye bank wey i don dey wait for ojota park who come dey bid am?

If you want to do monkey hunting, do it with relatively stable stock.

Skye bank, Oando aren't stable for now.



Just my opinion.

GTB gets to its final Bus-stop.

#NSETopLosers 25/08/16:
DANGCEM: -8.5
FO: -1.6
NB: -1.1
DANGSUGAR: -0.3
ZENITHBANK: -0.29


#NSETop Gainers 25/08/16:
SEPLAT: 4.89
7UP: 3.83
CAP: 1.36
FLOURMILL: 0.4
GLAXOSMITH: 0.1


#NSETopTrades 25/08/16
DIAMONDBNK:57,338,140.18
FBNH:132,295,517.09
UBA: 90,623,624.52
GUARANTY: 292,212,661.53
ZENITHBANK: 136,877,947.90

“In terms of oil production, we are keeping to the same level of this year for 2017 and that is 2.2m barrels per day. For 2018, 2.3m barrels per day; for 2019, 2.4 m barrels per day,” he said.


“The reason 2019 is slightly lower than 2018 is because that is an election year and usually, in an election year because of the uncertainties, we have also made provision for that,” he said.


Asked whether the issue of the emergency powers which Buhari was reported to have sought from the National Assembly to reflate the economy came up at the meeting, Udoma said nothing like that was discussed.


This people are not serious.

kolaish:
I don't always like to fall in love with any stock. The moment I made the required target price on any stock, I sell immediately, bfor the stock price changes its mind and start retreating.

It's not about falling in love with the stock.

I have a philosophy of buying stocks at the bottom, and selling when it get to the ceiling.

If i sell @N25 and it gets to N28 it will very difficult to enter, except it get below N25.

With stocks like GTB patience is the key.

The petrol behind this stock will soon finish.

Intendy:
My oga the question is when is the last bus stop?

truth is that I sold some stocks yesterday including GTB @ #25.75 ( bought all my gtb @ #13 charges inclusives)with no regret and for some purposes.

I rarely sell stocks but I will definitely buy lower.be it 2,3 months from now I don't mind.

all man for him self God for us all.

I entered between N16 and N17.

But selling has been really emotional, because this stock keep rising.

Will be watching till it gets to the But stop.

manie:
They are enjoying both worlds, earning salaries that are a bit higher than industry average and also allocating over 500 million shares of Access Bank to the workers. Every qualified member of staff should have an average of about 500k units of shares.

Wow are you sure of the 500k unit.

At what point can the beneficial member of staff sale their units?

Got a feeling they want to control the volatility of access bank shares.

Intendy:
stock with new 52 weeks high

GTB#26.26k


no new low

Oga is it advisable to JIJO with GTB when it reaches the BUS STOP?

I couldn't sell my GTB for the past one month, cus' i fear it might be difficult to jump in if jump out now.

austinkenneth:
The shareholders are the ones going to get fleeced in this game. Nigerian banks and their machinations!!!!

The shareholder who subscribed to their IPO and public offers at high prices have been forgotten

Only sleepy long term shareholders get fleeced.