The Presidency said on Sunday that there is no provision in the Finance Bill that states that banks will be required to request for Tax Identification Number before opening bank accounts for individuals and existing account holders must provide their TIN to continue operating their accounts.
The presidency highlighted the main changes proposed under the bill, which it said would be further defended this week at both the Senate and the House of Representatives. “Companies engaged in petroleum operations including midstream and downstream operations will not be eligible for exemption on profits in respect of goods exported from Nigeria. Downstream companies were previously eligible under the old upstream and downstream classification.
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Finance bill: TIN doesn’t compel everyone to pay tax, experts tell FGExperts have said making every account holder possess a Tax Identification Number does not mean everyone is required to pay tax, as there is an exemption to anyone earning below N30,000.
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Finance Bill 2022: No TIN Required To Operate Bank Account - PresidencyThere are no provisions in the Finance Bill 2022 now before the National Assembly forcing Nigerians to have a Tax ID number in order to operate a bank
Herkunft: LeadershipNGA - 🏆 4. / 77 Weiterlesen »
Finance bill: TIN doesn’t compel everyone to pay tax, experts tell FGExperts have said making every account holder possess a Tax Identification Number does not mean everyone is required to pay tax, as there is an exemption to anyone earning below N30,000.
Herkunft: MobilePunch - 🏆 8. / 63 Weiterlesen »