Nigeria’s President, Muhammadu Buhari, has signed the much debated Finance Bill into law.
Confiance News gathered that the President broke the news on Twitter on Monday.
“I am pleased to announce that this morning I signed into Law the Finance Bill, 2019.
We introduced the Bill alongside the 2020 Budget, to: Reform Nigeria’s tax laws to align with global best practices; Support MSMEs in line with our Ease of Doing Business Reforms; Incentivize investments in infrastructure and capital markets; and Raise Government revenues.
The Bill was signed and submitted alongside the 2020 budget to the National Assembly.
The bill — tagged the Finance Bill 2019 — is meant to reform the country’s tax laws, aligning them with global best practices, support MSMEs, encourage investments in infrastructure and capital markets, and increase revenue for the government.
With the president’s assent given, this means that the provisions of the Finance Bill would now be in effect.
