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FHC Delivers Landmark Decision on Retroactive Application of Finance Act 2019 by FIRS – THISDAYLIVE

FHC Delivers Landmark Decision on Retroactive Application of Finance Act 2019 by FIRS – THISDAYLIVE
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Finance act cannot apply retrospectively, court insists

A Federal High Court, Abuja, has held that the Finance Act, 2019, which became law on January 13, 2020, should not apply to trading activities conducted between January and December 2019. ....

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French envoy predicts economic recovery, growth for Nigeria


FIRS tasks non-residents on tax returns assures transparency
Deputy Regional Economic Counsellor, West Africa, French Embassy, William Levasseur, has expressed optimism that with the price of oil rising globally, Nigeria will recover economically, creating opportunities for starters as well as Small and Medium-scale Enterprises (SMEs).
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Levasseur disclosed this yesterday at a webinar organised by Franco-Nigeria Chamber of Commerce and Industry, in partnership with AELEX, on the ‘Finance Act 2020: Implications For Businesses’.
According to the envoy, the Finance Act is critical, involving changes for several sectors and contributing to economic stability.
MEANWHILE, the Federal Inland Revenue Service (FIRS) has appealed to non-residents to file their tax returns, as it has gone into partnership with sister agencies to ensure transparency in the process. ....

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