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.
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: MobilePunch - 🏆 8. / 63 Read more »
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
Source: Daily Trust - 🏆 13. / 51 Read more »