The Chairman of the Joint Committee, Senator Olamilekan Solomon Adeola (APC – Lagos West), in his presentation said the Finance Bill 2020 specifically seeks to amend 17 key areas.
They are: Capital Gains Act; Companies Income Tax Act; Industrial Development (Income Tax Relief) Act; Personal Income Tax Act; Tertiary Trust Fund Act; Customs and Excise Duties Tariff; Value Added Tax Act; Stamp Duties Act; and Electronic Transaction Levy.
Other areas amended are: Federal Inland Revenue Service (Establishment) Act; Nigeria Export Processing Zone Authority Act; Oil and Gas Export Processing Zone Act; Crisis Intervention Fund; Unclaimed Funds Trust Fund; Companies and Allied Matters Act, 2020; Fiscal Responsibility Act; and Public Procurement Act.
BREAKING: Senate passes Finance Bill 2020 | The Nation Nigeria thenationonlineng.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenationonlineng.net Daily Mail and Mail on Sunday newspapers.
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The Senate, on Tuesday, passed President Muhammadu Buhari’s Finance Bill 2020 transmitted to the National Assembly two weeks ago for consideration and passage.
President Buhari, in a letter dated November 25, 2020, which accompanied the Finance Bill during transmission, said its passage would support the implementation of the 2021 budget through key reforms to specific taxation, customs, excise, fiscal and other laws.
The passage of the bill was a sequel to the consideration of a report by the Senate Joint Committee on Finance; Customs, Excise & Tariff; Trade and Investment; and Public Procurement.
Presenting his report, Senator representing Lagos West and Chairman of the Joint Committee, Senator Olamilekan Solomon Adeola said the Finance Bill 2020 specifically seeks to amend 17 key areas.
Vanguard News
Senate passes Buhari’s Finance Bill 2020
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By Henry Umoru
THE Senate Tuesday passed President Muhammadu Buhari’s Finance Bill 2020 that was transmitted to the National Assembly two weeks ago for consideration and subsequent passage.
President Muhammadu Buhari had in a letter dated 25th November, 2020, which accompanied the Finance Bill during transmission, said its passage would support the implementation of the 2021 budget through key reforms to specific taxation, customs, excise, fiscal and other laws.
The passage yesterday was sequel to the consideration of a report by the Senate Joint Committee on Finance; Customs, Excise & Tariff; Trade and Investment; and Public Procurement.
Senate passes Finance Bill 2020 naija247news.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from naija247news.com Daily Mail and Mail on Sunday newspapers.