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March - April 2021 Ascension Tax Newsletter

In this newsletter, we have examined the following matters:

▪ International Employee Taxes:

We have examined major tax issues that typically arise under international employee secondment arrangements and suggested a way forward to deal with these issues; and

▪ Small Companies and the Withholding Tax Conundrum:

We have reviewed the income tax exemption granted to small companies by the Companies Income Tax Act (CITA), amended by the Finance Act 2019, alongside the directive by the Federal Inland Revenue Service (FIRS or “the Service”) on application of Withholding Tax (WHT) on income of small companies.

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