The FIRS circular on the taxation of Real Estate Investment Companies (REICs) is further to the recent amendments made by the Finance Act (FA), 2019 to the Companies Income Tax Act (CITA).
The FA 2019 defines a REIC as a Company duly approved by the Securities and Exchange Commission (SEC) to operate a Real Estate Investment Scheme (REIS) in Nigeria. It further clarifies the applicable tax regime and eligibility for tax exemptions.
Our alert and a copy of the FIRS Circular are below for more information.
Download PwC Tax Alert_FIRS Finance Act Circular - Real Estate Investment Companies ('REICs')
Originally published 14 May, 2020
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