E-book on issues arising from the implementation of the 2020 finance law


Friday, September 03, 2021 / 11:55 a.m. / by Wole Obayomi / Header image credit: KPMG

The annual enactment of finance laws clearly shows the federal government’s commitment to review existing tax laws and make incremental changes to Nigeria’s tax frameworks to align them with economic realities and global best practices, and facilitate growth and economic development.

We have reviewed the broad changes made to existing laws by the law and provided a comprehensive analysis of the impact on taxpayers in various sectors of the Nigerian economy in our eBook Finance Law 2020: Impact Analysis, published in February 2021.

In June 2021, the Federal Inland Revenue Service (FIRS) commendably updated its previous April 2020 information circulars on the 2019 finance law with the changes made by the 2020 finance law and issued new circulars to provide guidelines on the new amendments introduced by the Finance Law, 2020.

The Information Circulars provide guidance on the implementation of the Finance Laws and we have each devoted a chapter in this publication to the comments on each Circular. However, this publication should be read in conjunction with our eBook: Questions Arising from the Implementation of the Finance Law, 2019. For quick reference, we have provided the web link to each Information Circular at the end of each chapter. of the publication and in the appendix to it.

We hope that the FIRS will review the comments contained in this publication and revise the conflicting provisions of some of the circulars to bring them into line with the provisions of the Act.

Download here – Finance Law 2020

Download here – Questions arising from the execution of the finance law for 2020


* This statement was first published in KPMG’s September 2021 issue 9.1 / Newsletter of Thursday, September 02, 2021. For more information, please contact the author, Wole Obayomi via [email protected]

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