Oluchi Chibuzor
The federal government has declined applications from 10 companies seeking pioneer status under the industrial development Income Tax Relief Act (IDITRA).
This is according to the Nigerian Investment Promotion Commission (NIPC) report on Pioneer Status Incentive (PSI) applications for the first quarter of 2021 (Q1 2021).
The PSI is a tax holiday that grants qualifying industries and products relief from payment of corporate income tax for an initial period of three years, extendable for one or two additional years.
According to NIPC, the pioneer industries eligible for this tax incentive are agriculture, mining and quarrying, manufacturing, electricity and gas supply, waste management, construction, trade, information and communication, professional services, financials, and administrative services.
FG rejects tax relief applications from Flutterwave, Flour Mill, 8 others
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FG rejects Flour Mills, Flutterwave s tax holiday applications
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Echostone Development Nigeria said it has delivered a 252 WorldBank EDGE Certified affordable homes in Idale, Badagry.
Lagos State, which has over three million housing deficit had partnered Echostone in a Public-Private Partnership (PPP) aimed at providing 100,000 affordable homes in 10 years with modern-day technology, starting with the construction of 2,000 housing units in three Local Government Areas (LGA) of the state, Idale in Badagry; Ayobo in Alimosho LGA and Imota in Ikorodu Local Government Area.
Speaking at the official inauguration of the housing project, Managing Director of EchoStone Development Nigeria, Mr Sammy Adigun, explained that the housing scheme named, ‘Peridot Parkland Estate’, was the first-ever green-certified affordable housing community in Nigeria, and the first to be certified by International Finance Corporation.