Free Copy of the Finance Act 2020

Click to download free copy of the new Finance Act 2020.

On 31 December 2020, the President of Nigeria signed into law, the Finance Act 2020. It became effective on 1st January 2021. The new Finance Act 2020 ushered in  laudable improvements on the Nigerian tax system and ushered in 80 amendments that affected 13 existing federal laws. Popular changes brought in by the new Finance Act includes; the increase of Value Added Tax from 5% to 7.5%, creation of the Unclaimed Funds Trust Fund and the Crisis Intervention Fund of N500 Billion, Exemption of low-income earners (earners of minimum wage or less) from personal income tax, reduction of import duty on Tractors from 35% to 5%, and reduction of import levy on Cars from 30% to 5%. Click to download free copy of the new Finance Act 2020

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Click to download free copy of the new Finance Act 2020.

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