LAGOS - Nigerian President Muhammadu Buhari has signed into law a new bill that seeks to boost government revenue through a rise in the value-added tax rate while at the same time supporting small businesses in Africa’s biggest economy.
But raising more money from taxes has proved difficult in a country where most small businesses are not registered. The government has repeatedly said it wants to boost non-oil revenue since oil sales make up 90% of foreign-exchange receipts. Under the new law, the government will introduce a graduated tax scale for small businesses, with firms that generate less than 25 million naira in annual turnover exempt from corporate tax.
BSV
Clueless leadership
President Muhammadu Buhari Nigerians are solidly behind you and your administration, on your giant stride in taking Nigeria to an enviable height. No weapon fashioned against MBuhari shall prosper. Your haters shall continue to be in severe pain. In Shaa Allah!!!
As long as the businesses have nothing to do with Nigerian Princes 👍🏼👍🏼👍🏼
More displaced kings?
Now that Cardi B rescinded her desire to move to Nigeria, they are seeking other options to boost their economy.
If Nigeria wants to develop, the first step should be investing in contraceptives. Seriously!
Interesting!
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Source: BusinessInsider - 🏆 729. / 51 Read more »