Are management fees fully disallowable under Section 27(1)?

Home Tax Laws Discussions Articles Firms Professionals

Africa's professional tax knowledge network. Discuss every section of every tax statute with verified experts and practitioners.

Platform

Tax Laws
Discussions
Articles
Professionals

Company

About
Privacy Policy
Terms of Use
Contact

Resources

Finance Act 2024
Tax Calculator
Help Center
Glossary

Contact

+234 1000 000 000
hello@thecompany.agency

Are management fees fully disallowable under Section 27(1)? | Taxnotes

Are management fees fully disallowable under Section 27(1)?

Original Law Text

&ldquoNotwithstanding any other provision of this Act, for the purpose of ascertaining the profit of any company for any period...”

Section 27(1):

No deduction shall be allowed for the purpose of ascertaining the profits of any company in respect of—

Capital employed as improvements.

Any sum recoverable under an insurance or contract of indemnity.

Simplified Explanation

This section explains which business expenses may not be allowed as deductions when calculating your taxable profit.

Non-business expenses may be disallowed
Unsupported claims may be rejected
Capital improvements are not deductible here

TrendingState & Local Tax (SALT)

Are management fees fully disallowable under Section 27(1)?

We are currently auditing a subsidiary where the parent company charged significant management fees. The FIRS is contesting this…

5Replies

Anonymous• Jun 22

@jahid0676

Top Contributors

Jahid Hossain3pts

Chukwuemeka1pts

View Leaderboard

Top Sections

ChukwuemekaSenior Tax Manager · KPMG Nigeria • Jun 26

Test 1234

Jahid HossainWeb Developer • 4d ago

Thanks

Jahid HossainWeb Developer • Jun 22

Lorem ipsum dolor sit amet consectetur adipiscing elit dis, parturient fames pretium ac hendrerit faucibus magnis urna vel, bibendum nunc mattis sagittis ante nibh facilisi. Odio aliquam eleifend eu sociosqu netus luctus rutrum interdum porta taciti, cursus semper integer nec ridiculus blandit fusce feugiat. Cursus commodo aliquam metus

Jahid HossainWeb Developer • Jun 22

😊😜😋😇