CPPE seeks total review of Finance Bill

The Centre for the Promotion of Private Enterprise has called for a total review of the Finance Bill 2022, which President Muhammadu Buhari denied assent to on Tuesday, citing some irregularities. CPPE, in a statement, said the bill was hastily passed by the National Assembly without inputs from key stakeholders.

“This is a piece of legislation that has profound implications for investment, citizens’ welfare and the Nigerian economy. It is curious and puzzling that the Senate gave just 24 hours notice for stakeholders to attend a public hearing on the bill. The public notice was published on 21st December 2022 for a public hearing scheduled for 22nd December 2022.

It added: “Currently, corporate tax is 30 per cent, there is tertiary education tax of 2.5 percent, NITDA tax of one per cent; NASENI Levy of 0.25 per cent; Police Trust Fund tax 0.005 percent.

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