National Assembly passes Finance Bill

The National Assembly has passed the Finance Bill that proposes key reforms to specific taxation, excise, customs and fiscal laws.

The bill amends several laws namely the Capital Gains Tax Act, Personal Income Tax Act, Companies Income Tax Act, Stamp Duties Act, Petroleum Profits Tax Act, Value Added Tax, and Public Procurement Act. Chairman of the Finance Committee, Senator Solomon Adeola, presenting a report on the Finance Bill, noted that the bill is intended to enhance tax equity by bringing more economic sectors into the tax net and ensuring a fairer distribution of revenue receipts to all tiers of government.

The bill also seeks to change the name of the Federal Inland Revenue Service, FIRS, to Nigeria Revenue Service. The board is to be headed by a chairman who is separate from the management, while management will be headed by a chief executive who will be known as the Commissioner General.Related Topics:

It pains when you buy items you still pay 7.6% of the item price. This goes on day by day on everything we buy. Yet people say; Nigeria doesn't have money.

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

JUST IN: National Assembly okays Finance BillThe National Assembly (NASS) on Wednesday passed the Finance Bill 2022 which was transmitted to the National Assembly by President Muhammadu Buhari, earlier this month (December).
Источник: NigeriaNewsdesk - 🏆 10. / 63 Прочитайте больше »

With NITDA Bill, National Assembly prepares hemlock for telecoms industry | TheCableWriting on the NITDA Bill on September 1, this year, this writer concluded aphoristically: This particular Bill is outrageous and annoyingly duplicitous, a grotesque mirror image of the original already
Источник: thecableng - 🏆 2. / 80 Прочитайте больше »

Finance, Sales Cost Plods Totalenergies Profit – THISDAYLIVE
Источник: THISDAY LIVE - 🏆 14. / 51 Прочитайте больше »