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President Buhari Signs The Finance Bill, 2020 Into Law - Finance and Banking

To print this article, all you need is to be registered or login on Mondaq.com. Summary On 31st December, 2020, President Muhammadu Buhari signed the Finance Bill, 2020 (now Finance Act) into law. The Finance Act, 2020 (the Act), which has a commencement date of 1st January 2021, was signed into law alongside the 2021 Appropriation Bill (now Appropriation Act). The Act introduces significant changes to a number of tax and regulatory laws in Nigeria including the introduction of COVID-19 incentives alongside other changes. Details In December 2020, President Muhammadu Buhari transmitted the Finance Bill, 2020 to the National Assembly for consideration and passage into law in support of the 2021 Appropriation Bill. Subsequently,

Jurisdiction Of The State High Courts On Tax Matters - Tax

JURISDICTION OF THE STATE HIGH COURTS ON TAX MATTERS Introduction By section 272 of the 1999 Constitution of the Federal Republic of Nigeria (as amended), state high courts have wide jurisdiction over civil and criminal matters. 2 Evidently in line with this provision, it is quite common for disputes pertaining either to taxes regarded as state taxes or taxes accruing to the revenue of a state government, to be brought before state high courts for determination. Meanwhile, section 251(1)(b) of the 1999 Constitution (supra) gives exclusive jurisdiction to the Federal High Court in civil causes and matters connected with or pertaining to the taxation of companies and other bodies,

Understanding the tax legislations in Nigeria s Finance Bill 2020

ON THE GO ABCON: 26 BDC operators arrested over ‘money laundering, terrorism financing’ The Association of Bureau De Change Operators of Nigeria (ABCON) says 26 members have been arrested by security operatives, over alleged unlawful foreign exchange (FX) transactions.Advertisement Aminu Gwadabe, president of. Makinde: For blocking governance loopholes, I’ve received threats over 2023 ambition Seyi Makinde, governor of Oyo, says he has received threats over the forthcoming 2023 governorship election in the state, because he has blocked loopholes in the system.Advertisement According to a. NPHCDA: 374,585 Nigerians have received COVID vaccine over 90,000 in Lagos The National Primary Health Care Development Agency (NPHCDA) says the number of Nigerians who have received the COVID-19 vaccine has exceeded 350,000.Advertisement The agency disclosed this in an update on.

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