Page 2 - Gas Export Free Zone Act News Today : Breaking News, Live Updates & Top Stories | Vimarsana

FINANCE ACT 2020: Key changes and implications

Vanguard News FINANCE ACT 2020: Key changes and implications On President Muhammed Buhari, on 31 December 2020, signed the Finance Act 2020 (FA20) alongside the 2021 Appropriation Act into law. This reaffirms the Federal Government of Nigeria’s (FGN) commitment to enact fiscal policy annually, alongside the passage of the annual budget into law and aligns with global best practice. The Act, which took effect on January 01, 2021, amended the provisions of 14 tax and fiscal related legislation, namely: Capital Gains Tax Act (CGTA) Companies Income Tax Act (CITA) Industrial Development (Income Tax Relief) Act (IDITRA) Personal Income Tax Act (PITA) Tertiary Education Trust Fund (Establishment etc.) Act Customs and Excise Tariff, etc. [Consolidation] Act (CETA) Value Added Tax Act (VATA) Stamp Duties Act (SDA) Federal Inland Revenue Service (Establishment) Act (FIRSEA) Nigeria Export Processing Zones Act (NEPZA) Oil and Gas Export Free Zone Act (OGEFZA)

Muhammed buhariRevenue serviceNigerian stock exchangeNational assemblyRevenue service establishment actCompanies income tax actUnclaimed funds trust fundIndustrial development income tax relief actCrisis intervention fundTertiary education trust fund establishmentTertiary education trust fund actHouse of assemblyKindly share this storyFinance actFederal governmentGains tax act

2021 Budget, Economic Recovery and Fiscal Sustainability

The early passage of 2021 Budget, which for the second consecutive year, effectively returns the country to the January-December budget cycle is a means to an end and not an end itself. The main challenge is how to catalyse economic recovery efforts, and budget execution to significantly contribute towards achieving fiscal sustainability as well as macro-fiscal and sectoral objectives. Ndubuisi Francis writes It is an unassailable fact that Nigeria is buffeted by a deepening macroeconomic challenges, a worsening social and fiscal order. While the economic challenges grow in leaps and bounds, the resources to tackle them appear to be wearing thin. Nigeria’s second quarter 2020 gross domestic product (GDP) contracted by 6.1 per cent although it performed considerably betterthan expected in the third quarter, contracting only by 3.62 per cent, representing an improvement of 2.48 per cent points over the second quarter level.

Uche uwalekeNdubuisi francisZainab ahmedMuhammadu buhariRevenue serviceNational assemblyRevenue service establishment act noNational planningAbundant nigeria renewal partyCompanies income taxWorld bankDebt management officeRevenue fundCrisis intervention fundEnergy information administrationOrganisation of petroleum exporting countries

2020 budget: Reps approve N453 2bn for NDDC

Share The House of Representatives on Thursday approved the 2020 budget of N453.2 billion for the Niger Delta Development Commission (NDDC) for the period ending March 31, 2021. The approval was sequel to the consideration and adoption of the report of the House Committee on NDDC by the Committee of Supply at plenary, which was presented by NDDC Chairman, Hon. Olubunmi Tunji-Ojo. Out of the N453.200 billion, N27.389 billion is for Personnel Expenditure, N13.937 billion is for Overhead Expenditure, N2.793 billion is for Internal Capital and N409.080 billion is for Development Projects. A further breakdown of the budget showed that the sum of N27.389 billion is for Personnel Expenditure; the sum of N13,937,244,107 is for Overhead Expenditure; while the sum of N2,793,755,893 is for Internal Capital, N409.080 billion is for Development Projects for the period ending on 31 March 2021.

Niger deltaNigeria generalKaduna southBishop oyedepoAbiodun ogunyemiMeriwether lewisMuhammadu buhariOlubunmi tunji ojoMukhtar ahmedIfedayo olarindeNiger delta development commissionRevenue service establishmentLiving faith churchBudget national planningHouse committeeMinistry of works

Nigerian Senate Passes Finance Bill 2020

Nigerian Senate Passes Finance Bill 2020
allafrica.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from allafrica.com Daily Mail and Mail on Sunday newspapers.

Adeola olamilekanMuhammadu buhariNational assembly or states houses ofRevenue service establishmentNational assemblyCentral bankCommittee of theSenate joint committee onDebt management officeCompanies income tax actExchange commissionTertiary education trust fund establishmentRegistrars of companiesCompany income taxNational deposit insurance corporationWhile for unclaimed fund trust

Nigeria: Governors to Stop Tax Collection Concession As States Revenues Decline

Nigeria: Governors to Stop Tax Collection Concession As States Revenues Decline
allafrica.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from allafrica.com Daily Mail and Mail on Sunday newspapers.

Ekiti stateAbuja federal capital territoryFederal capital territoryKayode fayemiAsishana okauruZainab ahmedTertiary education trust fund establishmentNational planningNigeria governor forumRevenue services establishmentNational single windowCompanies income taxNational peer learning eventInternally generated revenueGeographic information systemFederal ministry