Bill to amend Finance Act passes first, second reading at Senate

A bill that seeks to Amend the Finance Act, 2019, has passed first and second reading at the Senate.

In the letter read out by the Senate President, Ahmad Lawan, one of the amendments sought by the president is that the new law for the increase in Value Added Tax from five per cent to 7.5 per cent will take effect from February 1. This incentive, he said, is also to be administered by Nigerian Investment Promotion Commission pursuant to the Industrial Development Act.

Is this amendment not too early? How did these amendment or adjustments escaped in the first place? This Finance Bill is not up to a year old and shortly being amend, this shows a shady job from Executive and Legislators.

Italia Ultime Notizie, Italia Notizie

Similar News:Puoi anche leggere notizie simili a questa che abbiamo raccolto da altre fonti di notizie.

BREAKING: Buhari writes Reps, seeks amendments to new Finance ActSquandering Nigeria's scarce resources, taking irredeemable and unpayable loans and then heaping taxes on the citizens to further impoverish the people is all this man know. Terrible leadership. Criminal in Chief. Hears only Money, Fulani and Oil....nothing else. joke
Fonte: MobilePunch - 🏆 8. / 63 Leggi di più »

Buhari writes Reps, seeks amendment of Finance Act – Daily TrustPresident Muhammadu Buhari has sent a letter to the House of Representatives seeking to amend the Finance Act approved by the National Assembly in November 2019. Ndi oshi
Fonte: Daily Trust - 🏆 13. / 51 Leggi di più »