Discover and read the best of Twitter Threads about #severancebenefit

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1. .@lirsgovng has issued a public notice, appointing employers as its agent, requesting employers to deduct and remit capital gains tax on payments to employees as compensations for loss of employment. Let’s look at this issue of taxing severance benefits. #Thread #TaxingNigeria
2. Whilst @LIRSGovNG agrees that compensation for loss of employment are free of personal income tax, it seek ways to proactively collect capital gains tax as may be prescribed by Capital Gains Tax Act, by holding employers responsible. #TaxingNigeria #SeveranceBenefit
3. Simply put, withholding tax (WHT) rules which applies under Personal Income Tax Act (PITA) is now being “imported” into Capital Gains Tax Act (CGTA). @lirsgovng purportedly rely on its powers to appoint anyone as its collection agents. #TaxingNigeria #SeveranceBenefit
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