Nigeria’s Finance Act 2020 Tax Amendments – Should the Oil and Gas Sector Be Nervous?
The Federal Government (FG) recorded a notable achievement on January 13th 2020 when President Buhari signed the Finance Act No. 1 of 2020 (albeit wrongly self-described as Finance Act 2019) into law. Further commendation would be earned if the FG keeps its word that henceforth, a Finance Bill embodying proposed tax legislative changes “on an ongoing basis”, will accompany every annual Budget proposal. The last time that such happened was under the military; no civilian administration has attempted to do so since Nigeria’s return to democratic governance in 1999.Read more