FIRS PUBLIC NOTICE ON CERTIFICATE OF FIXED ASSET ACCEPTANCE AS A PRECONDITION FOR THE CLAIM OF CAPITAL ALLOWANCE

The FIRS in a recent public notice requested that all companies submit their Certificates of Fixed Assets Acceptance (CAFA) on Qualifying Capital Expenditures (QCEs) for capital allowances enjoyed between 2016 and 2021 years of assessment. By the Public Notice, all companies are now required to provide CAFA going forward in respect of QCE with a value of N500,000 and above incurred in every year of assessment

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