MUGU-PLANENT

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Saturday, February 4, 2012 4:04:01 AM

what a lovely day the lord has made, i remain greatfull

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Saturday, February 4, 2012 4:03:53 AM

what a lovely day the lord has made, i remain greatfull

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Saturday, February 4, 2012 4:03:46 AM

what a lovely day the lord has made, i remain greatfull

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TAXATION AND FISCAL REGULATIONS IN NIGERIA INTRODUCTION (BY MUGU-PLANENT)

Thursday, October 13, 2011 4:45:13 PM

TAXATION AND FISCAL REGULATIONS IN NIGERIA
INTRODUCTION
The Nigerian Tax System has undergone significant changes
in recent times. The Tax Laws are being reviewed with the
aim of repelling obsolete provisions and simplifying the main
ones. Under current Nigerian law, taxation is enforced by the
3 tiers of Government, i.e. Federal, State, and Local
Government with each having its sphere clearly spelt out in
the Taxes and Levies (approved list for Collection) Decree,
1998. Of importance at this juncture however are tax
regulations pertaining to investors both foreign and local.
The importance of tax regulations cannot be overemphasized,
as most transactions with any Ministry,
department, or government agency cannot be concluded
without evidence of tax clearance. i.e. a Tax Clearance
Certificate certifying that all taxes due for the three
immediately preceding years of assessment have been
settled in full.
LIST OF APPROVED TAXES AND LEVIES FOR THE
THREE TIERS OF GOVERNMENT
A list of taxes and levies for collection by the three tiers of
government has been approved by government and
published by the Joint Tax Board (J.T.B.) as follows:
(A) Taxes collectible by the Federal Government
(1) Companies income tax;
(2) Withholding tax on companies;
(3) Petroleum Profit Tax;
(4) Value-added tax (VAT);
(5) Education tax;
(6) Capital gains tax - Abuja residents and corporate
bodies;
(7) Stamp duties involving a corporate entity;
(8) Personal income tax in respect of:
- Armed forces personnel;
- Police personnel;
- Residents of Abuja FCT;
- External Affairs officers; and
- Non-residents.
(B) Taxes/Levies Collectible by State Governments
(1) Personal income tax:
- Pay-As-You-Earn (PAYE);
- Direct (self and government) assessment;
- Withholding tax (individuals only);
(2) Capital gains tax;
(3) Stamp duties (instruments executed by
individuals);
(4) Pools betting, lotteries, gaming and
casino taxes;
(5) Road taxes;
(6) Business premises registration and
renewal levy;
- urban areas (as defined by each state):
 maximum of N 10,000 for registration and
N5 ,000 for the renewal per annum
- rural areas
- registration N2,000 per annum
- renewal N 1,000 per annum
(7) Development levy (individuals only) not more than
N100 per annum on all taxable individuals;
(8) Naming of street registration fee in state capitals
(9) Right of occupancy fees in state capitals;
(10) Rates in markets where state finances are
involved.
(C) Taxes/Levies Collectible by Local Governments
(1) Shops and kiosks rates;
(2) Tenement rates;
(3) On and off liquor licence;
(4) Slaughter slab fees;
(5) Marriage, birth and death registration fees;
(6) Naming of street registration fee (excluding state
capitals):
(7) Right of occupancy fees (excluding state capitals);
(8) Market/motor park fees (excluding market where
state finance are involved);
(9) Domestic animal licence;
(10) Bicycle, truck, canoe, wheelbarrow and cart fees;
(11) Cattle tax;
(12) Merriment and road closure fees;
(13) Radio/television (other than radio/tv transmitter)
licences and vehicle radio licence (to be imposed by
the local government in which the car is registered);
(14) Wrong parking charges;
(15) Public convenience, sewage and refuse disposal
fees;
(16) Customary, burial ground and religious places
permits; and
(17) Signboard/advertisement permit.
SOME OF THE RELEVANT TAX REGULATIONS AND
FISCAL ISSUES IN NIGERIA
These are categorised as Follows:
TRANSACTION TAXES
a. Capital Gains Tax
This accrues on an actual year basis and it pertains to all
gains accruing to a taxpayer from the sale or lease or other
transfer of proprietary rights in a chargeable interest which
are subject to a capital gains tax of 10%, such chargeable
assets may be corporeal or incorporeal and it does not
matter that such asset is not situated in Nigeria. Where
however the taxpayer is a non-resident company or
individual the tax will only be levied on the amount received
or brought into Nigeria.
Computation of capital gains tax is done by deducting from
the sum received or receivable from the cost of acquisition
to the person realizing the chargeable gain plus expenditure
incurred on the improvement or expenses incidental to the
realization of the asset.
b. Value Added Tax (VAT)
This was introduced by the VAT decree No. 2 of 1993, to
replace the old sales tax. It is a consumption tax levied at
each stage of the consumption chain, and is borne by the
final consumer. It requires a taxable person upon registering
with the Federal Board of Inland Revenue to charge and
collect VAT at a flat rate of 5% of all invoiced amounts of
taxable goods and services.
VAT paid by a business on purchases is known as input tax,
which is recovered from VAT charged on company’s sales,
known as output tax. If output exceeds input in any
particular month the excess is remitted to the Federal Board
Of Inland Revenue (FBIR) but where input exceeds output
the taxpayer is entitled to a refund of the excess from FBIR
though in practice this is not always possible.
A Taxpayer however has the option of recovering excess
input from excess output of a subsequent period. It should
be stated at this point that recoverable input is limited to
VAT on goods imported directly for resale and goods that
form the stock-in-trade used for the direct production of any
new product on which the output VAT is charged.
c. Education Tax
An education tax of 2% of assessable profits is imposed on
all companies incorporated in Nigeria. This tax is viewed as a
social obligation placed on all companies in ensuring that
they contribute their own quota in developing educational
facilities in the country.
d. Petroleum Profits Tax
Nigerian law by virtue of the Petroleum Profits Tax Act
requires all companies engaged in the extraction and
transportation of petroleum to pay tax. The taxable income
of a petroleum company comprises proceeds from the sale
of oil and related substances used by the company in its own
refineries plus any other income of the company incidental
to and arising from its petroleum operations.
The taxable income of a petroleum company is subject to
tax at 85%, but this percentage is lowered to 65.75% during
the first 5 years of operation. Where oil companies operate
under production sharing contracts they will be liable to tax
at a rate of 50%.
There are however some concessions granted petroleum
companies known as, Capital Allowance and Petroleum
Investment Allowance; the former is deducted in arriving at
the taxable income and entails expenditure on equipment,
pipelines, and storage facilities, buildings and drilling costs,
these are referred to as qualifying assets. The applicable
rate of Capital Allowance for any year is of 20% of the cost
of the qualifying assets applied on a straight-line basis for
the first 4 years and 19% for the 5th year. The latter is
regarded as an addition to capital allowance and covers
allowance in respect of new investments in assets for
petroleum exploration; it is available in the accounting
period in which the assets are first used.
It must be stated that the deduction of Capital Allowance is
restricted, so that for any accounting period, the tax on the
company should not be less than 15% of the tax which
would have been assessable had no capital allowances been
granted the company.
e. Nigerian Social Investment Trust Fund (NSITF)
This is governed by the NSITF Act, and requires everybody
employed in a Nigerian incorporated company to contribute
a certain percentage of their salary to the fund. This
contribution is based on the assumption that the maximum
basic salary in Nigeria is N48, 000 per annum; Expatriates
are excluded from this requirement where they can show
proof of a similar contribution in their home country. The
rate of contributions is defined as follows, where the
contributor is an employee, 2.5% of his salary subject to a
maximum of N 1,200 per annum; Where the contributor is
an employer, 5% of basic salary subject.
f. Stamp Duties
The administrations of stamp a duty, which is jointly carried
out by the state and Federal authorities, depending on the
type and nature of thedocument. Stamp duties are regarded
as transaction taxes, and the rates chargeable would depend
on the classification of the document. Some documents
attract stamp duties on flat rate basis while others are
assessed individually.
h. Withholding Tax
Nigerian law subjects certain activities and services to
Withholding Tax. This basically means that where during
transactions in any of the specified activities or services, a
payment is due from one person to another, the person
making the payment is expected to deduct tax at the
applicable rate and remit it to the relevant tax authority.
This should be done not later than 30 days after the
deduction. This provision can be found in sections 68 to 72
of the Personal Income Tax Decree No. 104 of 1993;
Sections 60 to 64 of the Company Income Tax Act (as
amended), and Section 51(a) of the Petroleum Profits Tax
Act (as amended).
Some of these activities and Services and their current
applicable rates include:
Payment % Corporation
%Individual/Partnership
Rent 10 10
Construction 5 5
Dividend 10 10
Royalties 10 5
Commission 10 5
Professional Fees 10 5
Technical Fees 10 5
Consultancy Fees 10 5
i . Double Taxation Agreements/Treaties
Nigeria has a number of tax treaties referred to as “Double
Taxation” Agreements with a number of countries. This is to
ensure that the tax payable in Nigeria on the profits of a
Nigerian company being remitted into the country are
reduced by the amount of “foreign Tax” paid abroad and vice
versa. In the last few years, Nigeria has entered into double
taxation agreements with a number of countries.
These agreements are entered into with a view to affording
relief from double taxation in relation to taxes imposed on
profit taxable in Nigeria and any taxes of similar character
imposed by the laws of the country concerned. Where an
overseas company receives profits from Nigeria that have
already been taxed in Nigeria. Some of these countries
include the UK, France, The Netherlands, Belgium, Canada
and Pakistan.
j. Personal Income Tax
The legal basis for this tax is found in the provisions of the
Personal Income Tax Decree [now Act]. 104 of 1993. Every
taxpayer in Nigeria is liable to pay tax on the aggregate
amount of his income whether derived from within or
outside Nigeria, the salaries, wages, fees, allowances, and
other gains or benefits, given or granted to an employee are
chargeable to tax. The Employers of labour are deemed to
be agents of the tax authority for the purposes of remitting
taxes deducted from salaries due to employees. However
residency of the Taxpayer determines the extent of a
taxpayer’s liability in Nigeria. A person’s place of residence
for this purpose is defined as a place available for his
domestic use in Nigeria on a relevant day, excluding hotels
and rest houses. A person is deemed resident in Nigeria if he
resides in Nigeria for 183 days in any 12month period,
expatriates holding residence permits are liable to tax in
Nigeria even if they reside in the country for less than
183days in any 12-month period. Once residence can be
established, the relevant tax authority of the territory is the
tax Authority in which the taxpayer has his place of
residence or principal place of business. The following are
however exempted from tax: -
• Medical or Dental expenses incurred by the
employee;
• Retirement gratuities and compensation loss of
office;
• The cost of passage to or from Nigeria incurred by
the employee;
• Interest on loans for developing an owneroccupied
residential house;
• Leave allowance, which is computed as 10% of
annual basic salary subject to a maximum of N7,
500 per annum.
k. Companies Income Tax
This Tax is payable for each year of assessment of the
profits of any company at a rate of 30%. These include
profits accruing in, derived form brought into or received
from a trade, business or investment. Also companies
paying dividends to its shareholders are first obliged to pay
tax on its profits at the companies tax rate. Generally, in
Nigeria Company dividends or other company distribution
whether or not of a capital nature made by a Nigerian is
liable to tax at source of 10%. However dividends paid in
the form of bonus share or scrip shares to individual
shareholders are not subject to tax. Also where a company
is a shareholder in another company then such dividends are
excluded from the profits of the company for the purposes of
computation of the tax.
12.3. Conclusion
With the present policy of liberalization of the Nigerian
Economy being vigorously pursued by the Federal
Government, Nigeria is fast becoming an investors haven
albeit with a few teething problems. What is required for the
foreign investor however is a careful approach to the
following areas:
• Proper enterprise set-up.
• Procurement of necessary permits and approvals.
• Access to the best professional advice.

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information technology in telecommunication

Thursday, October 13, 2011 4:33:23 PM

mugu-planent easy pls.

The Importance of Information Technology and Telecommunications.

Information can be as important as food, water, shelter, or medicine when responding to
a catastrophic event. Without accurate and timely information the ability of responders
to effectively distribute critical supplies, equipment, and resources is seriously impaired.
The results are often inadequate, mis-directed, or excessive response efforts.
The first link in the information chain is communications. The ability to disseminate
warnings, call for help, describe the level of damage, discuss needs, and deliver
information requires the establishment of two-way communications. This requirement
places telecommunications at the top of the disaster management technology support
list.
Telecommunications:
Heavily damaged or destroyed telecommunications infrastructure is one of the major first
response challenges. There are several options and considerations that need to be
reviewed when deciding on how best to meet the communications challenge. These
considerations include:
• Equipment availability
• Portability
• Cost
• Set-up time
• Transmission speed
• Anticipated data volumes
• Transmission frequency
• Government and military regulations
• Reliability
• Skill and operating requirements
The tsunami relief effort included the deployment of well established along with new
telecommunication technologies. Hand-held satellite phones provided reliable
communications for field personnel in remote areas and should be part of any critical
incident deployment. VSAT units were used for data transmission from UN, NGO, and
relief worker sites / offices. Temporary cell networks were established along with the
use of two-way HF and LF radios. Voice over internet protocol (VOIP) was also utilized
where the required data connections and hardware support was available.
One of the most promising and exciting telecommunication technologies deployed was
the Secure Wireless Infrastructure System (SWIS) installed by the IBM Crisis Response
Team in Teunom and Banda Aceh, Indonesia. The SWIS system transmits data at a
high speed rate of 3 MB Vs. the normal 56 Kbs transmission rate on most VSAT units.
SWIS could support up to 500 simultaneous users along with VOIP and video
capabilities. The SWIS Wi-Max feature has the ability to create a 75 mile wide 802.16
wireless bubble allowing PC’s with 802.11 capability to easily connect and transmit data.
SWIS units were used for transmission of medical information from field hospitals along
with logistics, IDP registration, consolidated reporting, and decision support data. The
SWIS unit installed in Banda Aceh is currently the main data transmission point from the
office of the Governor to senior officials in Jakarta.
While multiple technology solutions are available the priority level set by relief
organizations and local government officials to re-establish communications capabilities
following a disaster must remain as a primary strategic goal for any response effort.
Maintaining an inventory of critical communications equipment and identified personnel
to help set-up and operate this equipment will also be beneficial in reducing transport
and set-up time. Easy to understand documentation on how to operate the equipment
along with access to a “help desk” to answer questions from the field are all part of a
solid communications strategy.
Information Technology:
IT systems comprise the strategic core needed to effectively manage a critical incident.
The goals of an effective IT crisis support system include:
• Rapid deployment and set-up
• Access to critical “real time” decision support information
• The ability to perform data triage on information used by incident management
decision makers.
• Delivery of high value and high quality information matched against pre-defined
decision support variables or templates.
• Ease of use and flexibility for operating in a high stress, limited resource
environment.
• Systems that run in a connected and stand-alone mode
• Systems that facilitate information sharing and communication between
international relief organizations, local government, and the private sector.
• Need and donor matching to identify and reduce redundant efforts between the
public and private sector.
• Open systems, flexible, scalable, and secure application and technology
solutions.
• Comprehensive and flexible report generation
• Adapting systems to meet regulatory, cultural, social, skill and usage
requirements.
In responding to the tsunami there were many excellent examples of progressive open
system applications that were utilized across the affected areas. Many of these systems
were developed in cooperation with IT industry service providers and representatives
from UN and government agencies. Some of the application areas addressed included:
• Victim tracking
• IDP registration
• Logistics management
• Relief camp management
• ID card systems
• GIS mapping
• Relief organization registration
• Need & donor matching
• Re-construction decision support
• Child protection services
• Collaborative work space
• Incident management
• Contact and personnel management
• Data consolidation
• Report Generation
• Data management
Effective use of IT systems can help improve many aspects of the disaster response and
recovery effort. One example is the use of requirements tracking and donor
management systems to reduce potential redundancies and duplications of effort. Local
capabilities and resources need to be identified and assessed against critical relief
demands and social, political and economic issues. A decision can then be made if
outside resources and supplies are needed to supplement local capabilities. IT systems
can track sources of the required supplies and match them against critical needs.
Volume, pricing, delivery, specification and other resource needs can be included in the
analysis. Multiple donation sources should be considered including government, UN,
NGO, and private sector donors. Using IT systems to match donations against specific
needs will reduce redundancy and improve efficiency.
Next Steps:
It is imperative we build on the success of the tsunami relief IT and communication
programs. We need to consolidate, enhance, and deploy “best of breed” applications
and technologies for global use in disaster preparedness, response, and recovery. IT
and Telecom functions should be viewed as strategic components of the disaster relief
effort and a foundation for building comprehensive resiliency and preparedness plans.
IT and Telecom support must be designated as immediate deployment resources in any
crisis event.
A plan is currently in place to consolidate and enhance the emergency management
relief applications that were utilized in the tsunami relief effort. This plan includes
support from UN organizations and the private sector. An “open systems” philosophy
has been adopted to address UN agency and local government requirements for
independence and flexibility. It is hoped that the development of consolidated
emergency management relief systems will help to improve communications,
coordination, and foster the sharing of mutually beneficial information across UN
agencies, NGO’s, local governments, and private sector groups.
Further improvements are also needed to address various social, political, economic,
and environmental issues as they affect disaster response and recovery efforts. One
area of required improvement is the inconsistent implementation of or lack of emergency
powers legislation and delegated responsibility during times of crisis. As a long time
responder, it is very frustrating to see life saving equipment and supplies delayed at
ports of entry because of a failure to modify customs regulations to simplify the receipt of
goods during catastrophic events. This includes the receipt of IT and communications
equipment donated to relief efforts.
The 2005 WHO Conference in Phuket brings with it the promise of working together to
build partnership solutions that will proactively reduce risk, accelerate recovery, minimize
losses, and build resiliency.[/I][/B][/ALIGN][/ALIGN][/ALIGN][/ALIGN][/ALIGN][/ALIGN]

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Thursday, August 11, 2011 4:46:18 PM

DEATH

Sam loco is one of the best treasure in nollywood,untill his death, he was a man and a treasure in the screen play every nigerian and outside the country want and desired to watch as he display. Below is of the interview before he was time-up (Death)

One of the last interview before his death
. I am from Benin in Edo State. Many people misplace my surname for a Delta man. Efe is a Benin name although the Urhobo people popularised it. Efe means Wealth in Benin as it also means in Urhobo but it means Cloth in Ibo. My surname is fully pronounced Efeeimwonkiyeke, meaning wealth has no time limit.One can be wealthy at 90 when people must have lost hope. What actually happened was that my grandmother was having only female children and after so many years, she gave birth to my father at an old age and when he arrived, the name given to him is “you see now my wealth has finally arrived.” I later inherited this from my father as I was the last of my parents children and the only male child. The beginning I was born here in Enugu, but I spent my childhood in Abakaliki and a modest attempt at becoming an actor was what triggered my passion for the stage. There was a time, Government College, Umuahia came to Abakaliki with a production. We all got so excited and I said to myself that if these men can stay on stage before a large audience and render their lines without looking into any book or script, there must be something magical about it. A few bold ones among us asked them some questions after the production and they said it was a matter of training and perseverance. So, when they left, I attempted a play that was larger than our collegiate level. I decided to produce William Shakespeare’s Julius Caesar. I acted Caesar and also directed it without any formal training. Education Going to school in the East then was tough. It was not like the Western Region where students got everything free. It was tough for us, so my nephew and I alternated street trading on a yearly basis to enable the other acquire education. But because of the staccato arrangement, I must confess that I had to attend so many primary schools.I was a very good footballer and so I went to almost ten secondary schools playing football and getting scholarships here and there and I was stubborn as well. As I was being admitted into one, I was being expelled from another. Challenges in Nollywood I can say that the movie industry began with genuine theatre and movie people. As soon as things started getting better, charlatans found their ways into it. In their legion now there are a mixture of purpose, some are in Nollywood not because of the urge to be a Thespian nor the willingness to learn but I believe that as time goes on, we shall flush such people out. This is a house I helped to build and it would be madness for me to allow people with no history to rubbish the much that has been achieved. Story lines of Nigerian movies I would not say that I am satisfied but I would rather say that I am happy with the progress made so far. Critics in Nigeria like to jump the gun. How old is Nollywood? We cannot deny that the story lines are getting better, even as we cannot deny that the performers are also helping to make things get better. However, there is a need for continued training by the stakeholders in the industry. But we shouldn’t deny that progress is been made. Best paid job I think Langbodo was my first truly well paid job. Being a national production we were well paid. I was being treated like an egg because I played the lead role. On screen, I think it’s my best paid job. ——————————————— Sam Loco Efe will be sorely missed. R.I.P.
Watch Sam Loco at his comedic best below: For more Sam Loco Efe videos, visit: http://www.youtube.com/user/ officialsamloco

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Tuesday, August 9, 2011 2:49:34 PM

helloooooo

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NANS

Tuesday, August 9, 2011 12:03:13 PM

NAPAS, NANS

national association of nigeria student

NANS

Tuesday, August 9, 2011 11:56:47 AM

national Association of Nigeria

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PERSONALIZING UR OPERA (MUGU-PLANENT)

Tuesday, August 9, 2011 6:01:40 AM

9ja###

U will be there if u follow the instructions by Mugu-Planent.
Go to your xplore configuration and mark from show hidden files to show system files. Download fresh operamini 4.2. Then make sure you can locate it with your xplore. Create a new folder in ur xplore by clicking on menu - make direct. Then give the folder a name. Or press 9 to create folder. Click on the jar file you want to modify then go to menu, extract to.. Then extract it to the folder have created. Go to where you have extracted your files you will see META-INF folder.Inside it u will see the MANIFEST.MF file, and Thats what contains the midlet name, dercription etc. To open it just press on it, then u will see every details contained in it. on the MANIFEST.MF file then it will display its hex and character values. On the right is the character values, on the left is its hex values in numbers. Just go to the menu, Edit, then press menu again, the click Edit chart, or just press your call send key. Go to menu, insert mode to put it in insert mode. After that, u will notice that, its in capital letters and maybe you can't change it to small letters. Just go to menu, find chars, then put any letter you want to find,then press ok. It will find the letter and change to small letter. Start editing, scroll down and look for Midlet name study it carefully you will notice that after the midlet name there is two dots without space. Eg Midlet-Name: Operamini4.2..Microedition... operamini4.2 is the midlet name and there is two dot after it You can now insert any name there. Eg Midlet-Name: Operamini4.2 by kingsley..Microedition...etc. Scroll down again and look for Midlet-1: you will see Midlet-1: Operamini4.2,/ you can insert your name there to look like this. Midlet-1: Operamini4.2 by stanley,/ This is the name that appears when you launch your operamini. You can look for Midlet description and put any name there and others like Midlet vendor and midlet info url. If youu want to put the words that appear when youu want to delete or remove the application from your phone, Scrol down, then after the last word, just type two dots, if there are already dots, and they are more than two, delete some to make it two, then type: MIDLET-Delete-Confirm: Operamini4.2 mod by stanley....
Say thanks to MUGU-PLANENT

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