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Federal Government gazettes Finance Act, 2019

Federal Government gazettes Finance Act, 2019

CBN introduces special foreign exchange window for investors and exporters

Nigeria’s President signs 2019 Finance bill into law

The Finance Bill, which was passed by the National Assembly in December 2019 and transmitted to the presidency for assent, is expected to change the tax landscape in Nigeria as it contains amendments to the provisions of seven (7) extant tax laws.

CBN introduces special foreign exchange window for investors and exporters

Nigeria Tax Landscape maintains Status Quo as Finance Bill 2019 is yet to be enacted

It is in the overall interest of the country that the euphoria that greeted the release of the Finance Bill is sustained with an early passage. This is a much-needed action in view of the drive towards bridging the country’s revenue gap.

CBN introduces special foreign exchange window for investors and exporters

Nigeria’s Finance Bill 2019: key changes and implications

This newsletter gives an overview of the Bill, analyses the key provisions vis-à-vis the changes to the primary taxing legislation and highlights the potential tax implications for stakeholders.

PenCom directs PFAs to discontinue the operation of Death Benefits Accounts

The National Pension Commission (PenCom) has mandated all licensed Pension Fund Administrators (PFAs) to discontinue the operation of Death Benefits Accounts (DBAs) with effect from 31 January 2020. DBAs have been used by legal beneficiaries to access benefits of deceased contributors to the pension scheme who did not open Retirement Savings Account (RSA) during their lifetime.

Finance Bill 2019 passes second reading – seeking to change the Nigerian tax landscape

The Finance Bill, 2019 (the Bill), presented alongside the 2020 proposed budget to a joint session of the National Assembly on 8 October 2019 by President Muhammadu Buhari, has passed the second reading. The Bill’s strategic objectives, amongst others, include promoting fiscal equity, reforming domestic tax laws, introducing new tax incentives and raising revenue for the government.

2019 Federal Budget Signed into law

Central Bank of Nigeria automates the export process with the introduction of e-Form ‘NXP’

The Central Bank of Nigeria (CBN), on 28 October 2019, released a circular (“the Circular”) informing the public about the deployment of an automated e-form ‘NXP’ (the Form) to replace hard copy form ‘NXP’ with effect from 31 October 2019.

World Bank ease of doing business report 2020: Nigeria remains top improver

The World Bank Group (World Bank) on Thursday, 24 October 2019, published its 2020 Doing Business Report (the Report). This latest report sees Nigeria ranking 131 out of 190 countries on the ease of doing business index, an upward movement by 15 places from 2019 ranking of 146.

Analysis of Nigeria's Budget 2020

Analysis of the Federal Government’s 2020 Budget Proposal

On Tuesday, 8 October 2019, President Muhammadu Buhari presented the proposed 2020 budget of the Federal Government of Nigeria to the joint session of the National Assembly (NASS), wherein he also itemised the policy thrust of FGN.

The African Continental Free Trade Area: Unfolding Changes

Now the largest free trade agreement since the creation of the World Trade Organization, the Agreement is expected to lead to structural changes in the current business environment. What is AfCFTA? How does it impact you? What should be your response?