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Nairaland Forum / Nairaland / General / Politics / 2020 Finance Bill: More Tax Incentives Offered To Nigerians (11316 Views)
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2020 Finance Bill: More Tax Incentives Offered To Nigerians by lalasticlala(m): 6:26pm On Nov 20, 2020 |
More tax incentives offered to Nigerians Reduction in duties on tractors from 35% to 10%. Reduction in duties on motor vehicles for the transportation of goods from 35% to 10%. Reduction of levy on motor vehicles for the transportation of persons (cars) from 35% to 5%. Exemption of small companies (with less than 125m turnover) from payment of education tax under the Tertiary Education Trust fund (TETFUND). Fifty per cent reduction in minimum tax; from 0.5% to 0.25% for gross turnover for financial years ending between January 1st, 2020 and December 31st, 2021. Granting of tax relief to companies that donated to the COVID-19 relief fund under the private sector coalition (CACOVID). Why Buhari is proposing 2020 Finance Bill to National Assembly – Finance Minister https://www.premiumtimesng.com/news/top-news/426884-why-buhari-is-proposing-2020-finance-bill-to-national-assembly-finance-minister.html 2 Likes
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Re: 2020 Finance Bill: More Tax Incentives Offered To Nigerians by Pepsi4me(f): 6:30pm On Nov 20, 2020 |
Buhari will not kill us 4 Likes |
Re: 2020 Finance Bill: More Tax Incentives Offered To Nigerians by inoki247: 6:30pm On Nov 20, 2020 |
Make we enjoy the sufferness while stock last 3 Likes |
Re: 2020 Finance Bill: More Tax Incentives Offered To Nigerians by Elvictor: 6:37pm On Nov 20, 2020 |
very good. 7 Likes 1 Share |
Re: 2020 Finance Bill: More Tax Incentives Offered To Nigerians by DenreleDave(m): 6:40pm On Nov 20, 2020 |
OK |
Re: 2020 Finance Bill: More Tax Incentives Offered To Nigerians by Mgbadike80: 6:45pm On Nov 20, 2020 |
I think these moves are actually to stimulate tax paying by reducing the rates thereby encouraging companies to pay.I honestly don't think this is what Nigeria needs most now, clearing a vehicle through the extremely corrupt Nigerian customs is not based on official tariffs but by been willing to pay whatever you're asked to pay even if the receipt for such payment says that you paid 600k even when you actually paid 1.8 million, any attempt to claim your right would only attract sorry, tears and blood. NB: The finance minister told the senate that Value added tax (VAT) would be increased next year, why is the government not telling us about it. The current government is a scam. 31 Likes |
Re: 2020 Finance Bill: More Tax Incentives Offered To Nigerians by Liposure: 6:45pm On Nov 20, 2020 |
Anything to alleviate the sufferings of the masses is welcome 4 Likes |
Re: 2020 Finance Bill: More Tax Incentives Offered To Nigerians by edoairways: 6:47pm On Nov 20, 2020 |
Mgbadike80:I agree with you 6 Likes |
Re: 2020 Finance Bill: More Tax Incentives Offered To Nigerians by amidel(m): 6:53pm On Nov 20, 2020 |
Good thing here but nothing this present government will do that will make me like it again. It's already f'ucked up. 8 Likes |
Re: 2020 Finance Bill: More Tax Incentives Offered To Nigerians by Dayoebe(m): 6:58pm On Nov 20, 2020 |
gig |
Re: 2020 Finance Bill: More Tax Incentives Offered To Nigerians by Enudapan: 7:04pm On Nov 20, 2020 |
Nah eh! No qualms This is so sophisticated My own hustle shaa Does not requires paying taxes or registration with CAC or whatever the call it 2 Likes |
Re: 2020 Finance Bill: More Tax Incentives Offered To Nigerians by Nobody: 7:04pm On Nov 20, 2020 |
Only a jobless buharist will take his time to read this shit
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Re: 2020 Finance Bill: More Tax Incentives Offered To Nigerians by Chriswazo(m): 7:05pm On Nov 20, 2020 |
I don't understand this transportation caveat. They should reduce tax on all imported cars. By the way, will Toyota Sienna fix into this line of tax relief 4 Likes |
Re: 2020 Finance Bill: More Tax Incentives Offered To Nigerians by Adlac(m): 7:05pm On Nov 20, 2020 |
Okay. |
Re: 2020 Finance Bill: More Tax Incentives Offered To Nigerians by tammie24: 7:05pm On Nov 20, 2020 |
Statement on Georgia 1 Like 1 Share
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Re: 2020 Finance Bill: More Tax Incentives Offered To Nigerians by OlujobaSamuel: 7:05pm On Nov 20, 2020 |
Good one though Tax relief to CACovid donor isn't a nice idea. Virtually all big corporations donated, if you give them tax relief, where do you intend getting fund to run the government, from the masses and salary earners? 6 Likes 1 Share |
Re: 2020 Finance Bill: More Tax Incentives Offered To Nigerians by IamFINESSE: 7:05pm On Nov 20, 2020 |
Re: 2020 Finance Bill: More Tax Incentives Offered To Nigerians by bluefilm: 7:06pm On Nov 20, 2020 |
Je ne comprends pas du tout. |
Re: 2020 Finance Bill: More Tax Incentives Offered To Nigerians by Cocobongo(m): 7:06pm On Nov 20, 2020 |
We will survive 1 Like
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Re: 2020 Finance Bill: More Tax Incentives Offered To Nigerians by techmo(m): 7:06pm On Nov 20, 2020 |
Not bad Increase the tax bracket and encourage more people to pay tax through visible projects and reduce the tax burden on struggling businesses Kudos. Buhari,. You made the right call . 6 Likes 1 Share |
Re: 2020 Finance Bill: More Tax Incentives Offered To Nigerians by candidbabe(f): 7:07pm On Nov 20, 2020 |
APC have destroyed this country 1 Like |
Re: 2020 Finance Bill: More Tax Incentives Offered To Nigerians by careytommy37(m): 7:08pm On Nov 20, 2020 |
Sai bubu 1 Like |
Re: 2020 Finance Bill: More Tax Incentives Offered To Nigerians by michoim(m): 7:09pm On Nov 20, 2020 |
Pepsi4me:Very poor response from a pessimist 7 Likes 1 Share |
Re: 2020 Finance Bill: More Tax Incentives Offered To Nigerians by hinere(m): 7:09pm On Nov 20, 2020 |
Buhari...Buhari...Buhari...Behaving as if he doesn't see what is happening in Nigeria. Behaving as if he doesn't hear what is happening in Nigeria. The worst part is can't the politicians the surround him advise him or is everything "YES SIR". As for that Lai Mohammed Its because these politicians have one thing in common...Wealth. The day I heard how much a Minister or Senators spends a day...I cried Nigerians should wake up. These Politicians don't just make money from politics alone. They Invest. They search for legitimate investment ventures and they invest in them for profit generation. And the thing is they all invest in Agriculture and Real Estate. They discourage you from venturing into Agriculture but secretly are investing in it. And I'm not talking about carrying cutlass or buying cement to build house o...No. They invest in already thriving Agricultural Investment and Real Estate Investment. When you invest in Agriculture, you get 55% ROI In Months When you invest in Real Estate, you get 45% ROI in Months. These are legitimate investment ventures that these men venture into to Double their wealth. The sectors are so big to contain everyone. To know more about how to invest in Agriculture and Real Estate and get ROI in months, Click below. https://www.nairaland.com/6237592/invest-agriculture-make-up-55 https://www.nairaland.com/6237567/invest-real-estate-make-up 2 Likes |
Re: 2020 Finance Bill: More Tax Incentives Offered To Nigerians by GIANTPLUSHUB: 7:09pm On Nov 20, 2020 |
OK naaw! We are watching! |
Re: 2020 Finance Bill: More Tax Incentives Offered To Nigerians by Nobody: 7:10pm On Nov 20, 2020 |
Well good move At least they reduced some If them kuku increase am we no fit do anything Na to shout and let go of the matter later.
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Re: 2020 Finance Bill: More Tax Incentives Offered To Nigerians by Nobody: 7:10pm On Nov 20, 2020 |
What shall I say Issoright |
Re: 2020 Finance Bill: More Tax Incentives Offered To Nigerians by teeytimi: 7:11pm On Nov 20, 2020 |
This is a wrong economic move. Reducing tax and levies on imported product will only increase importation thereby putting more pressure on our local companies with lower comparative advantage. Tax reduction or holiday should have been on companies operating within Nigeria alone. My humble submission 1 Like |
Re: 2020 Finance Bill: More Tax Incentives Offered To Nigerians by endsarrrs(f): 7:11pm On Nov 20, 2020 |
Lala post dey always dey boring. Except for snake mata na we dey hear shout. . . |
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