UPDATED: FEC approves Finance Bill 2020 | The Nation Nigeria

The Federal Executive Council , presided over by President Muhammadu Buhari on Wednesday approved the Finance Bill 2020, to support the 2021 Budget.

Explaining features of the bill, the Minister said the intent of the bill is to ease tax burdens on some categories of enterprises, especially small and medium enterprises. “Through this Finance Bill, what we are seeking to do is to make incremental changes to tax laws relating to Customs and Excise as well as other fiscal laws to support the implementation of annual budget. When Mr. President presented the 2021 Budget to the Parliament, he did direct that the 2020 Finance Bill will also follow to support the budget proposals.

“Theses reforms will commence and will also be closely followed by the cessation rules for small businesses as well as providing incentive for mass transits by reducing import duties and the levies for large tractors, buses and other motor vehicles. The reason for us is to reduce the cost of transportation which is a major driver of inflation especially food production.

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

BREAKING: FG says no plan to increase taxes as FEC approves Finance BillOlalekan Adetayo, AbujaThe Federal Executive Council on Wednesday approved the 2020 Finance Bill.The decision was taken at a meeting of the council presided over by the President, Major Ge... ASUU bill nko No plan to increase tax but you're increasing every other thing that Nigerians live on.. Who are you deceiving?
La source: MobilePunch - 🏆 8. / 63 Lire la suite »

BREAKING: FEC approves Finance Bill 2020 | The Nation NigeriaThe Federal Executive Council (FEC), presided over by President Muhammadu Buhari on Wednesday approved the Finance Bill 2020...
La source: TheNationNews - 🏆 6. / 69 Lire la suite »

FEC approves Finance Bill 2020, rules out hike in taxesThe 24th virtual Federal Executive Council (FEC) chaired by President Muhammadu Buhari on Wednesday approved the Finance Bill 2020 designed to engender incremen
La source: Daily Trust - 🏆 13. / 51 Lire la suite »

FEC approves Finance Bill, says no tax increase
La source: MobilePunch - 🏆 8. / 63 Lire la suite »

There Will Be No Increase In Tax, Minister Says As FEC Approves Finance Bill 2020ICYMI: There Will Be No Increase In Tax, Minister Says As FEC Approves Finance Bill 2020 Na wa oh Nigeria which way Hahahaha! Increase in tax without increase in salary... Revolt in a bit If you fellow me I follow back no pain no gain
La source: channelstv - 🏆 7. / 63 Lire la suite »