Extraordinary

Federal Republic of Nigeria

Official Gazette
No.7

Lagos - 2nd January, 2015

Vol. 102

Government Notice No.4

The following is published as supplement to this Gazelle:

Sf. No.
2

Short Title

Companies Income Tax (Rates etc ., of Tax Deducted at Source

(Withhold ing TaxAmendment Regulations, 2015 ..

Page
8 2124

Printed and Published by The Federal Go\'emment Printer. Lagos. Nigeria

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B 21
COMPANIES INCOME TAX ACT, CAP C21 , LFN 2004
COMPAN IES INCOME TAX (RATES ETC., OF TAX DEDUCTED
AT SOURCE (W IT HHOLDING TAX)) AMENDMENT
REGULATIONS, 2015

ARRANGEMEN T OF ,..REGULATIONS

Regulations:
I.

Amendment of the Companies Income Tax (Rates etc., of Tax

2.

Deducted at Source (Withholding Tax)) Amendment Regulations.

Amendment of the Schedule to the Companies Income Tax (Rates

etc., of Tax to be Deducted at Source (Withhold ing Tax Amendment

Regulations.
3.

Citation.

B 23
S. I. No. 2 of201S
COMPANIES INCOME TAX ACT, CAP C21, LFN 2004
COMPANIES INCOME TAX (RATES ETC., OF TAX DEDUCTED
AT SOURCE (WITHHOLDING TAX)) AMENDMENT
REGULATIONS, 2015

[1st Day of January. 20 15]

In nercise of the powers conferred on me by Stction 81(8) of the Companies
Inc:ome Tax Act, Cap C21, LRWS orlbe Federation ofNigtria. 2004 and all other powers
enabling me in thaI behalf, I. DR NGOZJ O":O:>iJO-!\\,ULA, Coordinating M inister (or the
Economy and Minister of Finance, Federal Republic of Nigeria hereby make the
following Amendment to the Companit'S Incdme Tax (Ratts etc., of Tax Deducted at
Source (Withholding Tax Regulations, 1997:

1. The Companies Income Tax (Rates etc., of Tax Deducted at Source

(Withholding Tax Regulations 1997 is amended as set out in these

Regu lations.

2. The Regulations is amended by substituting paragraph 1 of the

Schedule with a new paragraph 1 as follows:

Column I
Payment in respect of:
1. All aspects of building,
construction and related activ ities
(excluding survey, desi gn and
deliveries).

Column 2
Rate at which Tax is to be Deducted:
2.5%

3 . These Regul at ions may be cited as the Companies Income Tax

(Rates etc., of Tax Deducted at Source (Withholding Tax Amendment
Regulations, 20 IS.

MADE at Abuj a this 17th day of December, 2014.

DR NGOZI O KONJO-lwE ALA

Coordinating Minister for the Economy
and Ministe r of Finance

Commencement.

Amendment
of the
Companies
Income Tax
(Rates etc ..
ofTax
Deducted at
Source
(Withholding
Tax))
Regulations.
Amendment
of the
Schedule to

.h,

Companies
Income Tax
(Rates etc ..
ofTax
Deducted at

So,,,,

(Withholding
Tax)
Regulations.
Citation.

B 24
EXPLANATORY NOTE

(This /lale does not form part of the above Regul(ltions but is
intended to explain its purport)
These Regulations reduces the rate of tax deducted under the Companies
[ncome Tax Act for all aspect of building, construction and related acti vities
(exclud ing survey, design and deliveries) from 5% to 2.5%.

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