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Nairaland Forum / Nairaland / General / Politics / Companies With Less Than N25m Turnover Will Not Pay Income Tax -finance Minister (533 Views)
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Companies With Less Than N25m Turnover Will Not Pay Income Tax -finance Minister by Sunofgod(m): 7:54pm On Jan 06, 2020 |
The Minister of Finance, Budget and National Planning, Zainab Ahmed, has stated that Micro and Small (MSMEs) with a turnover of less than N25 million will be exempted from Compànies Income Tax (CIT) under the New Finance Bill. The Minister of Finance said on a programme of the Nigerian Television Authority (NTA) on Monday. According to her only companies earning over N25 million per annum would be.subjected to payment of tax. She said, “Our assessment is that any business that has a turnover of less than N25m needs that break, not being taxed so they can invest in their businesses.” Vanguard Read more at: https://www.vanguardngr.com/2020/01/companies-with-less-than-n25m-turnover-will-not-pay-income-tax-%e2%80%95-finance-minister/ |
Re: Companies With Less Than N25m Turnover Will Not Pay Income Tax -finance Minister by ghettokid1(m): 7:59pm On Jan 06, 2020 |
Kudos to the FG, if only it will work 1 Like |
Re: Companies With Less Than N25m Turnover Will Not Pay Income Tax -finance Minister by GamalNasser: 8:00pm On Jan 06, 2020 |
Trust dishonest Nigerians to start understating their profits |
Re: Companies With Less Than N25m Turnover Will Not Pay Income Tax -finance Minister by valarmorghulis: 8:00pm On Jan 06, 2020 |
Ope o, thanks a lot |
Re: Companies With Less Than N25m Turnover Will Not Pay Income Tax -finance Minister by hisgrace090: 8:07pm On Jan 06, 2020 |
I hope they will not deny this news tomorrow. One benefit to the masses if not turned down at last. 1 Like |
Re: Companies With Less Than N25m Turnover Will Not Pay Income Tax -finance Minister by Sunofgod(m): 8:28pm On Jan 06, 2020 |
What benefits do the companies receive in return for paying taxes to the FG? A conducive environment? Security? Power? Infrastructure? Insurances? Grants? This finance minister is 'thicker' than 'Kemi' 1 Like |
Re: Companies With Less Than N25m Turnover Will Not Pay Income Tax -finance Minister by Nobody: 6:07am On Jan 07, 2020 |
Wrong move… Compaies will start under reporting tax. . |
Re: Companies With Less Than N25m Turnover Will Not Pay Income Tax -finance Minister by Sunofgod(m): 1:57pm On Jun 06, 2021 |
ok |
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