Nigeria - Get Tax Concession on Solid Minerals

Advertisement

Procedure

Apply In-Person:

1. To Get Tax Concession on Solid Minerals in person, the applicant has to visit any nearest office of the Nigerian Investment Promotion Commission (NIPC) in his/her state of residence. The address and contact details can be found in the following link: address details
2. Submit a letter requesting to get Tax Concession on Solid Minerals to the relevant authority at the office.
3. After submission, your request letter along with the attached document/s (if any) will be forwarded for further verifications.
4. Once all the internal processes are over, you will be notified through any applicable means with further instructions to follow in order to become a beneficiary.

Advertisement

Required Documents

• Follow the concerned officer’s recommendation regarding files that need to be annexed.

Office Locations & Contacts

Nigerian Investment Promotion Commission - Heade Office
Plot 1181 Aguiyi Ironsi Street
Maitama District
Abuja, Nigeria.
Tel: +234 (0)9 2900059
Tel: +234 (0)9 2900061
Email: [email protected]
Website:Link

Eligibility

• Investors in the solid minerals sector can benefit.
  

Fees

Explain the fees structure which is required for obtaining the certificate/document.

Validity

• The benefit is valid for 3 to 5 years.
  

Documents to Use

Please attach documents that can be used by people. e.g. links

Sample Documents

Please attach sample completed documents that would help other people.

Processing Time

Please explain processing time taken in obtaining the document/certificate.

Related Videos

Videos explaining the procedure or to fill the applications.
Attach videos using the following tag <&video type='website'>video ID|width|height<&/video&> from external websites.
Please remove the '&' inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver,
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.g In the following url 'http://www.youtube.com/watch?v=Y0US7oR_t3M' Video ID is 'Y0US7oR_t3M'.

Instructions

Please provide other instructions related to the certificate/documents.
e.g. The state office holds birth records since january 1908.

Required Information

A list which displays the kind of information which is required to complete the procedure.
e.g.
1. Date of Birth.
2. City or Country of Birth.

Need for the Document

Please provide the need for the procedure. e.g. Birth Certificate - why do we need to have a birth certificate?

Information which might help

Nigeria is richly endowed with a variety of solid minerals of various categories ranging from precious metals, stones and industrial minerals such as barytes, gypsum, kaolin and marble.
The ministry of solid minerals has worked out a package of attractive incentives for potential investors in the solid minerals sector, including:

• 3 to 5 years tax holiday.
• Deferred royalty payments depending on the magnitude of the investment and strategic nature of the project.
• Possible capitalisation of expenditure on exploration and surveys.
• Provision of 100% foreign ownership of mining companies or concerns.
• In addition to roll-over relief under the capital gains tax (cgt), companies replacing their plants and machinery are to enjoy a once-and-for-all 95% capital allowance in the first year with 5% retention value until the asset is disposed of, etc.

Other uses of the Document/Certificate

Please explain what are other uses of obtaining this document/certificate.
e.g. Birth Certificate can be used as proof of identity.

External Links

Place some external links which might help.

Others

More information which might help people.