President Muhammadu Buhari signs Financial Bill into law on Monday 13th January, 2020.
While signing the Financial Bill this morning the president revealed that it is introduced alongside the 2020 budget.
“I am pleased to announce that this morning I signed into Law the Finance Bill, 2019”,
“We introduced the Bill alongside the 2020 Budget, to:
-Reform Nigeria’s tax laws to align with global best practices; -Support MSMEs in line with our Ease of Doing Business Reforms; -Incentivize investments in infrastructure and capital markets; -Raise Government revenues.
“This is the first time, since the return of democracy in 1999, that a Federal Budget is being accompanied by passage of a Finance Bill specially designed to support its implementation, and to create a truly enabling environment for business and investment by the private sector”.