Corporate reorganization or corporate restructuring, which are interchangeable terms, has become an increasingly relevant topic in Nigeria in the past year, owing to changes in government policies. (Some of the policies influencing corporate reorganizations include the upward review of the minimum share capital requirement of microfinance banks and insurance/reinsurance companies in Nigeria by the Central Bank of Nigeria and National Insurance Commission, respectively.)
Norley, Swanson and Marshall (2001) define corporate restructuring as the reorganization of a companys ownership, legal framework, and operational structure to make the firm more competitive, earn higher profits and meet business needs. A reorganization may be carried ou…
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