Page 31 - Minimum Tax News Today : Breaking News, Live Updates & Top Stories | Vimarsana

To print this article, all you need is to be registered or login on Mondaq.com. In this article, we review the significant changes being proposed to the Companies' Income Tax Act (CITA) and its likely impact on companies. On Thursday 8 October 2020, His excellency, President Muhammadu Buhari presented the 2021 Budget Proposals to the Joint session of the National Assembly. The 2021 Budget Proposal was themed "Nigeria's Budget of Economic Recovery & Resilience". The key budget assumptions are as follows: benchmark oil price set at US$40 per barrel; daily oil production ...

To print this article, all you need is to be registered or login on Mondaq.com. On 31 December 2020, the President signed the Finance Bill, 2020 (now Finance Act, 2020) into law, alongside the 2021 Appropriation Act. Indeed, the introduction of the Finance Act, 2020 (FA 2020) at the beginning of fiscal year 2021 is a step in the right direction. One can come to a conclusion that the Nigerian government is making conscious efforts to align its local laws with global best practices, promote fiscal equity, improve the ease of doing business, provide support for small busi...

Introduction In a bid to ensure that economic and financial challenges faced by the country are promptly managed and addressed through revised and definite economic policies, President Muhammadu Buhari signed the Finance Bill 2020 into law which is now known as the Finance Act 2020 ("The Act") on December 31, 2020 alongside the 2021 Appropriation Bill. This aligns with best practices in different jurisdictions across the world where existing tax legislations and framework are annually reviewed in order to support each year's budget and a major aspect of the initiatives suggested by the Presid...

Airtime, Electricity Prices To Shoot Up Tomorrow File image of a man on his phone Twitter Kenyans will usher in the new year with additional costs of basic commodities going up from Friday, January 1, 2021. This is after the Value Added Tax relief that the Government had announced in April 2020 expires, effectively increasing VAT from 16 percent to 18 percent.  The National Treasury, in early December 2020, announced that a majority of tax relief that was necessitated by the Covid-19 pandemic will cease to apply on January 1. Prices of mobile airtime and electricity will go up alongside...