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Nigeria: Update on tax legislation in Finance Bill, 2019

Nigeria: Update on tax legislation, Finance Bill, 2019

Finance Bill, 2019 passed its second reading in the Senate.

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The bill, as presented to the National Assembly in October 2019, includes measures that would revise provisions of the laws for corporate income tax, value added tax (VAT), petroleum products tax, individual income tax, and the customs and excise tax and stamp duties rules.

It is expected that the bill could be passed by the National Assembly at the same time as there is passage of the 2020 budget and the 2020 appropriation bill.

Read a November 2019 report [PDF 1 MB] prepared by the KPMG member firm in Nigeria

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