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

0

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

Credits

* 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]


Related news

  1. LIRS publishes a public notice on the changes to the PITA introduced by the 2020 finance law
  2. Nigeria Finance Law 2020: Overview Series and Sector Analysis
  3. 2020 finance law: impact analysis
  4. 2020 finance law and its impact on the employment tax
  5. 2020 Finance Law: Highlights of the Latest Developments in the Nigerian Tax System
  6. Implications of the 2020 finance law for individuals and labor employers
  7. 2020 finance law: key changes and implications
  8. Finance Law 2020: Unclaimed dividends and dormant balances
  9. 20 key changes in the new 2020 finance law
  10. The Senate adopts the 2020 finance bill
  11. 2021 finance bill: stakeholder engagement begins
  12. Finance Law 2019: Tax implications for the private equity sector
  13. Stamping of electronic documents under the Stamp Duty Law as amended by the Finance Law
  14. FIRS Clarifies Changes Introduced to Nigerian VAT Regime by Finance ACT 2019
  15. Questions arising from the execution of the 2019 finance law
  16. Finance law 2019: the minister clarifies the meaning of significant economic presence
  17. The 2019 finance law introduced an amendment to the CITA to impose a foreign entity
  18. FIRS Finance Law Circular: Amendments to the Stamp Duty Law
  19. FIRS issues clarifications on various provisions of the 2019 finance law with regard to the CIT law

Proshare Nigeria Pvt.  Ltd.

Proshare Nigeria Pvt.  Ltd.


Source link

Leave A Reply

Your email address will not be published.