She explained that dividend declared and unclaimed fund would be warehoused and owed as a perpetual debt to shareholders.
Mrs Ahmed said that an amendment of Section 33 of the Companies Income Tax Act has been proposed to reduce the minimum tax rate from 0.5 per cent to 0.25 per cent of gross turnover of financial year ending in December 31, 2021. Declaring the hearing open, Speaker Femi Gbajabiamila said the Finance Bill would determine amongst other things, the ability of the nation to fund the 2021 budget to meet the obligations of government.
“It is expected that over the course of this public hearing, citizens will advance ideas and make recommendations that will improve the quality of the legislation and ensure the varied interests and considerations of all Nigerians are taken into view before final enactment into law of this essential legislation,” he said.
“They include Capital Gain Tax Act as amended by the Finance Act 2019; Companies Income Tax Act as amended by the Finance Ad 2019 and Industrial Development Act.
no tax them, idiots. Government that hides palliatives