Understanding the Finance Act of 2020 – Series 1

Posted on Jan 22, 2020

The recent ratification of the Finance Act (the “Act”) by President Muhammadu Buhari ushers in a new dawn for the business landscape in Nigeria, as the Act brandishes significant modifications to several provisions of the Companies Income Tax Act, Personal Income Tax Act, Value Added Tax Act, Capital Gains Tax Act, and Custom and Excise Tariff Act.

In the first of these series, we present some of the major highlights of the Act with focus on the amendments to the Companies Income Tax Act and Value Added Tax Act, while pointing out the necessary implications for Nigerian business entities.

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