In fulfilment of his promise to issue a Finance Act annually to accompany the nation’s budget, the President, Muhammadu Buhari presented the 2020 Finance Bill to the National Assembly on 8th October 2020. According to the President, the Finance Bill would support the implementation of the 2021 budget through key reforms in taxation, customs, excise, fiscal and other laws. After extensive stakeholders’ engagement, the Bill was passed by both houses of...

Recent Business Disruptions - Further tax palliatives to ameliorate the effect of COVID 19 and EndSARS Protests. It is no longer news that COVID-19 hit the global economy hard. The impact of the pandemic ranges from the drastic decline in business activities to organizations shutting down their operations and laying off of employees, just to mention a few. The impact of the pandemic can hardly be ignored. While organizations are still licking this wound, “EndSARS Protest” broke out.

The Finance Act 2019 was introduced by the Government of Nigeria in the year 2020 to promote the ease of doing business in the Country for Small and Medium Enterprises and align with best practices around the world. Significant Changes were made to The Company Income Tax Act, VAT Act, and Capital Gains Tax Act

In the second edition of the 2020 quarterly issue, the PKF Worldwide Tax Newsletter brings together notable tax changes and amendments from around the world, with each followed by a PKF commentary which provides further insight and information on the matters discussed.