How approval of 2020 Finance Bill by FEC will impact on taxes – Finance Minister

The 2020 Finance Bill, critical to the implementation of the 2021 Budget has been approved by the Federal Executive Council.
The Minister of Finance, Budget and National Planning, Mrs. Zainab Shamsuna Ahmed announced this on Wednesday while briefing newsmen after the meeting of the council presided over by President Muhammadu Buhari.
The bill is designed to bring about incremental changes in the nation’s tax laws. The minister however assured that the passage of the bill into law would not lead to increase in taxes in the country. “This is not the time to increase taxes” she said.
The bill will soon be transmitted to the National Assembly for its consideration and passage into law.

One thought on “How approval of 2020 Finance Bill by FEC will impact on taxes – Finance Minister

  1. I am really very happy that Nigeria is now thinking forward in term of Taxes. I am really excited about the series of changes introduced. I feel confident that this will form a basis for growth sustenance in the Nigerian economy.

    However, we still need to look into activitioes of CAC (orporate Affairs commission) sabotaging the progressive effort of this administartion by introduction of a needless Document/Certificate delivery courier, which makes it impossible for any newly company formed to get certificate even within a month as we speak. ( I am personally still waiting for 3 company certificatea after 30 days with no date in view). Letter written to CAC yielded no result with no reply.

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