Finance Act 2020: Highlights Of Latest Developments In Nigeria's Tax Regime - Tax
A. OVERVIEW President Muhammadu Buhari signed the Finance Act 2020 into law on December 31, 2020. The new legislation followed hot on the heels of the Finance Act 2019 1 which amended several tax statutes. The Finance Act 2020 was enacted in furtherance of the Federal Government's progressive reform of the business climate in Nigeria, and the need to constantly restructure the tax system to align and conform same with international best practices, and make it respond effectively to the changing socio-economic landscape. Specifically, the Finance Act 2020 amended fourteen (14) principal tax an...