FG To Provide More Tax Incentives For Nigerian Businesses

Following the finance bill 2020 that was approved by the Federal Executive Council FEC, the Federal Government wants to provide more tax incentives for Nigerian businesses and individuals.

This was formally presented to State governors at a National Economic Council meeting led by the vice president Prof Osinbajo.

The proposed bill which has been presented to the National Assembly included reduction duties on all vehicles meant for transporting of goods from 35% to 10%, reduction of levy for cars that transport people from 35% to 5%, granting of tax relief to companies that donated to Covid-19 under CACOVID and a lots more.

This was made known today 20th November via the Presidency twitter page.

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Esther Ifeoluwa

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