Spanco Granted Pioneer Status in Nigeria

Mumbai, Maharashtra, India:The Nigerian Investment Promotion Commission (NIPC) has granted the Pioneer Status incentive in respect of Spanco’s activity in Telecommunication (BPO/Call Centre) to expand their business. The status has been received by Spanco Channel BPO Limited which is Spanco’s BPO arm operating in Nigeria. Pioneer status is a tax holiday granted to qualified or (eligible) industries anywhere in the Federation and five year tax holiday. The grant of Pioneer Status to an industry is aimed at enabling the industry concerned to make a reasonable level of profit within its formative years. The profit so made is expected to be ploughed back into the business. Pioneer Status is conferred on a firm if it falls within the sectors that are defined by the government as priority areas. When a project is conferred with pioneer status, it becomes entitled to a tax holiday of 5 years.

Spanco had applied for the Pioneer Status and had made detailed representations to various committees and government officials on plan for expansion, contribution to the Nigerian Economy, Job creation and developing Nigeria as a hub for Outsourcing activity across the African continent. The term period for this is for five(5) years, with effect from the date of commencement of production which will be certified by the Industrial Inspectorate Department of the Ministry of Trade & Investment,Garki,Abuja.

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