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Review of Some Major Tax Legislation in Nigeria From 1990-2007
No full textThere have been multiple tax legislation since 1990 covering various aspects of the socio-economic. life of Nigerians, major ones of which were enacted between 1990 and 2007. It interests this writer therefore to take a critical look into them with a view to highlighting their features, some of the amendments made thereto and their importance as they touch the main socio-economic aspects of the country. These enactments include:
1. Companies Income Tax Act, Cap 60, LFN 1990, as amended by Companies Income Tax (Amendment) Act 2007.
2. Value Added Tax Act No. 102, 1993 as amended by Value Added Tax (Amendment) Act 2007.
3.Personal Income Tax Act, No. 104, 1993, as amended by Personal Income Tax (Amendment) Act 1999.
4. Capital Gains Tax Act, Cap 42, LFN 1990 as amended by Capital Gains Tax Act, Cap. CI, LEN 2004.
5. Petroleum Profit Tax Act, Cap 354, LFN 1990, as amended by Petroleum Profit Tax Act, No. 30, 1999, LFN 2007
A Review of Formalities in Company Administration
No full textThe word “formal” means “following established procedure, custom and practices (eg. following a ceremonial practice), and formality. It means a point of practice that must be observed so as to achieve a particular legal result or procedural requirement. To achieve a legal requirement in the administration of companies therefore, recourse must be had to the provision of the relevant laws. The relevant laws are those that govern the formation, management and winding up of companies,
which include
(1)Companies and Allied Matters Act No 1, of 1990 (as amended), cap C.20, Laws of the Federation of Nigeria 2004.
(2) Securities and Exchange Commission Act, 1989;
(3) Investment and securities Act 1990;
(4) Banking Act, 2004; and
(5) Insurance Act 200
Phytochemical Screening, Proximate Analysis and Mineral Composition of Cassia occidentalis Seed Extract.
No full textQualitative determination of chemical and nutritional composition of Cassia occidentalis, an underexploited crop seed in Nigeria, was carried out. Seeds of C. occidentalis were found to be rich in crude protein, carbohydrate, and mineral elements. Mineral analysis of C. occidentalis showed the seed as good source of antioxidant micronutrients such as iron, calcium, potassium, sodium and magnessium. The phytochemical screening of the seed showed the presence of carbohydrate, terpene, steroid, sugar and tannins. Alkaloids, saponnins and glycosides were absent. Although the oil has a very low peroxide value and high iodine value, it cannot be recommended for consumption because of the low yield as well as its repulsive odour. The seed, however, can serve as a cheap source of protein, energy, as well as antioxidant micronutrients supplements in both man and animal