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Finance bill ‘ll exempt minimum wage earners from Personal Income Tax ― Minister
On
Zainab Ahmed
The Minister of Finance, Budget and National Planning, Dr Zainab Ahmed says the 2020 Finance bill, when signed into law will exempt minimum wage earners from Personal Income Tax (PIT).
Ahmed made this known on Friday in Abuja at a public hearing organised by the House of Representatives Committee on Finance.
“In the light of the current economic situation, it is proposed that persons who earn minimum wage are exempted from paying PIT,” the minister said.
Ahmed explained that no new tax was introduced neither was there any tax increase in the bill.
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The Minister of Finance, Budget and National Planning, Zainab Ahmed, said the 2020 Finance Bill, when signed into law, will exempt minimum wage earners from Personal Income Tax (PIT).
Mrs Ahmed made this known on Friday in Abuja at a public hearing organised by the House of Representatives Committee on Finance.
“In the light of the current economic situation, it is proposed that persons who earn minimum wage are exempted from paying PIT,” the minister said.
She explained that no new tax was introduced neither was there any tax increase in the bill.
The minister explained that the bill was to introduce reforms that would enable the country meet the current economic challenges occasioned by the COVID-19 pandemic.
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The political misunderstanding that has been lingering between the legislative and executive arms of government in Bauchi State which stalled the presentation of the 2021 appropriation to the State House of Assembly by the governor, Sen. Bala Mohammed last Wednesday may have been politically resolved.
During the plenary of The House on Thursday, two official communications from the Executive Arm were received as Presented by the Majority Leader of the House, Tijjani Muhammad Aliyu revealing that in the first message, the Governor requested the approval of the House to allow him to present the 2021 budget on Tuesday, 15th December 2020 due to the communication gap in the previous letter which the Governor requested for the presentation on Wednesday, 9th December 2020.
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