New Finance Act 2020
- The GreenVisor
- Feb 3, 2020
- 1 min read
A new Finance regime has kicked off in Nigeria. One of the first items to come into action is a new VAT rate and new list of VAT exempt items. The new VAT rate of 7.5% and an updated list of VAT exempt items with new basic food items
The clarification of pre-existing provisions in the Companies Income Tax Act and Personal Income Tax; and the changes to the Value Added Tax Act, Customs and Excise Tariff, Capital Gains Tax Act, Stamp Duties Act and Petroleum Profit Tax Act are exciting for all industries and business men and women in the country.
Stay updated on these changes and how they affect your enterprise. Contact your advisers and implement the necessary changes at operational and strategic levels.
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