Finally, National Assembly transmits Finance Bill to Buhari

The bill, presented by the President to the National Assembly as part of the measures to shore up revenue to finance the 2020 budget, seeks to amend the Petroleum Profit Tax Act, Customs and Excise Tariff Act, Company Income Tax Act, Personal Income Tax Act, Value Added Tax, Stamp Duties Act and the Capital Gains Tax.

The Senior Special Assistants to the President on National Assembly Matters, Senator Babajide Omoworare and Mr Umar el-Yakub could not be reached via telephone on Friday for official confirmation of the transmission.When the Finance Bill is signed into law, Nigerians who want to open or maintain accounts with the Deposit Money Banks will not have to provide their Tax Identification Number to do so, according some of its details.

Chairman of the House Committee on Finance, James Faleke, while explaining each of the amendments, also listed their benefits to the economy. “Insurance companies can now carry forward tax losses indefinitely, deduct reserve for unexpired risks on time apportionment bases, while special minimum tax for insurance has been abolished.”

While a joint hearing with the Senate was botched last week due to a conflict between the two chambers of the National Assembly, the House had held a separate public hearing on the bill.

Can I be educated on the importance of this bill?.

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Hate Speech Bill: You have no business in government if you're afraid of criticisms - Alaafin tackles NASS - Daily Post NigeriaThe Alaafin of Oyo, Oba Lamidi Olayiwola Adeyemi 111, on Thursday, berated the National Assembly over the re-introduction of the anti-hate speech bill by Best tweet I read today Let them know sir Iku Baba yeye!!! May your day be long on the throne of your ancestors. Nigerians need your unprecedented contribution to castigate and antagonize the Legislature to enact such bill or law. Kaaaabiyesi oooo🙌🙌🙌🙌
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