Free Copy of the Finance Act 2020

Click to download free copy of the new Finance Act 2020.

On 31 December 2020, the President of Nigeria signed into law, the Finance Act 2020. It became effective on 1st January 2021. The new Finance Act 2020 ushered in laudable improvements on the Nigerian tax system and ushered in 80 amendments that affected 13 existing federal laws. Popular changes brought in by the new Finance Act includes; the increase of Value Added Tax from 5% to 7.5%, creation of the Unclaimed Funds Trust Fund and the Crisis Intervention Fund of N500 Billion, Exemption of low-income earners (earners of minimum wage or less) from personal income tax, reduction of import duty on Tractors from 35% to 5%, and reduction of import levy on Cars from 30% to 5%. Click to download free copy of the new Finance Act 2020

Click to download free copy of the new Finance Act 2020.

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Onyekachi Umah, Esq., LL.M, ACIArb(UK)

Onyekachi Umah is an exceptional Legal Practitioner, Arbitrator, Notary Public and Legal Awareness Expert with over a decade of experience in civil law, criminal law and human rights. He holds a Master of Laws; a Master of Business Administration (mini) and he is a doctoral candidate. Mr Umah is the Managing Partner of the law firm of Bezaleel Chambers International (BCI), where he consults and provides legal services to several national and international organisations, including the United Nations. Aside from his very engaging legal practice, Mr Umah runs a legal awareness organisation (Sabi Law Foundation) and he diligently publishes free daily law tips, every day on www.LearnNigerianLaws.com since 2017. He has published over 820 legal articles in diverse areas of law, delivered over 35 public lectures, anchored over 67 law radio/tv shows and supported several legal and developmental projects across Africa. Click to read more.

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Steve Ayuba says:

June 2, 2022 at 2:44 pm

thank you for the overview on the Finance Act and the downloadable copy of the Act.

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