Finance Act, 2020: Impact Analysis

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Saturday, February 13, 2021 / 07:25 AM / By Wole Obayomi / Header Image Credit: KPMG Nigeria


We are pleased to announce the publication of our Finance Act, 2020: Impact Analysis e-book.

 

His Excellency, President Muhammadu Buhari, on 31 December 2020, signed the Finance Act, 2020 ("the Act") into law.

 

The  Act introduces changes to the  Companies Income Tax Act, Personal Income Tax Act, Custom and Excise Tariff Etc. (Consolidation) Act, Value Added Tax Act, Capital Gains Tax Act, Petroleum Profits Tax Act, Stamp Duties Act, Nigeria Export Processing Zones Act, Oil and Gas Export Free Zone Act, Industrial Development (Income Tax Relief) Act, Tertiary Education Trust Fund (Establishment) Act, Federal Inland Revenue Service (Establishment) Act, Fiscal Responsibility Act, Public Procurement Act, and Companies and Allied Matters Act.

 

The passage of the Act reinforces the Federal Government's commitment to making incremental changes to Nigeria's fiscal framework, such that Nigeria has a fiscal framework that is pivotal to achieving its economic growth and development imperatives.

 

This publication contains the impact analysis of the key amendments to the extant laws introduced by the Act on tax administration, revenue generation and collection, and businesses operating in various sectors of the economy.

 

Please click the links below to read and download the:


Credits

* This statement was first published in the Issue 2.2/ February 2021 Newsletter of KPMG of Friday, February 12, 2021. For further enquiries, please contact the author, Wole Obayomi via ng-fmtaxenquiries@ng.kpmg.com


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Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.

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