The Nigeria's Court of Appeal has upheld an earlier judgment of the Federal High Court and the Body of Appeal Commissioners regarding the restriction of capital allowance that may be claimed by a company that is not fully engaged in agro-allied or manufacturing activities.

The judgment also sustained the existing decision of the court on "Excess Dividend Tax" on the basis that the dividends in question were paid out of profits which had not been taxed.

Read our alert and a copy of the judgment for details.

Download Tax Alert_Court of Appeal Decision on Capital Allowance and Excess Dividend Tax

Download Court of appeal ruling on CA & EDT_Mar 2015

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.