Before the two Finance Acts 2020 ( FA 1 2 0 2 0 a n d F A 2 2 0 2 0 ) ’ s amendments to the Companies Income Tax Act² (CITA) and the Value Added Tax Act³ (VATA) in January and December 2020 respectively, size-based company categorisation was not totally a low key affair in the now repealedCompanies and Allied Matters Act, (CAMA 2004), or even in the CITA. However, it was totally off the radar in the VATA. In between the twoFinance Acts, CAMA 2020 was enacted in August 2020, with further detailed size-based provisions on company classifications.
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