Logo
NEWS | Education | DJ MIX | OTHERS | SPORTS |


Logo

Logo

Logo
 
Logo


« | »

BREAKING NEWS: Buhari Signs Finance Bill, Approves 7.5% VAT Increase


The President, Major General Muhammadu Buhari (retd.), on Monday, signed the 2020 Finance Bill into law.

The Special Adviser to the President on Media and Publicity, Mr Femi Adesina, confirmed this development in a statement in Abuja.

According to the presidential aide, this is sequel to its passage by the National Assembly and subsequent forwarding by the legislature to the President for assent.

It would be recalled that the retired general, while presenting the 2020 Appropriation Bill to the National Assembly, had also presented the Finance Bill.

These objectives are; promoting fiscal equity by mitigating instances of regressive taxation; Reforming domestic tax laws to align with global best practices;

“Others are; Introducing tax incentives for investments in infrastructure and capital markets; Supporting Micro, Small and Medium-sized businesses in line with our Ease of Doing Business Reforms; and Raising Revenues for Government

The draft Finance Bill proposes an increase of the VAT rate from five per cent to 7.5 per cent , as such, the 2020 Appropriation Bill is based on this new VAT rate,” he said.

With the assent, according to Adesina, there would be more revenue to finance key government projects especially in the areas of health, education and critical infrastructure.

TRENDING SONGS

Song Soldier To SARS: The Day You Kill A Yahoo Soldier Is When You’ll Be In Trouble (Video) Song Happy Birthday To Fela Pounds As He Celebrates His Birthday Today Song Wizkid Mocks Davido On His New Song “FEM” Song [Audio & Video] Davido – FEM! Song A Nigerian Musician Is In Search Of This Kid, Reward Worth Of N50,000 (Video) Song Snake Pulled From A Russian Woman’s Throat After It Crawled In While She Slept (Video) Song [Music] Yung Shef Feat. Snazzy Grin – Nobody Song [Music] Billi Gram – One Love Song Mompha Sues EFCC For N5M Over His Re-Arrest Song Birthday Shout Out: Happy Birthday To Blessing Ivie

CLICK TO DROP YOUR COMMENT

Share this post with your friends on


0 Responses

Leave a Reply

NOTE:- Make your comment a bit long to get it approved.



Go Back To The Top

« | »


Looking for something? Search below





About Djkotech I OIMSB to the WORLD

Akpore Eguono Love (born 04 May 1996), known professionally as Dj Kotech (sometimes stylized as Kotech joor), is a Nigerian disc jockey and a blogger. Dj Kotech signed a record deal with Mighty Men Empire (M.M.E) in 2016. He rose to prominence after releasing “Good Times” followed by “Oga Sars“. In February 2018, Dj Kotech […]more →