A 'small company' for CIT purposes has turnover not exceeding:
A₦10 million
B₦25 millionCORRECT
C₦50 million
D₦100 million
CITNCompany Taxation
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Why the answer is B, and why the others tempt you.
Finance Act amendments to CITA: small companies with gross turnover ≤ ₦25 million are exempt from CIT.
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