Nigeria - 2019 - Finance

Finance Bill, 2019

Ministry of Finance, Budget and National Planning, Nigeria

This bill proposes major fiscal reforms to promote fiscal equity by mitigating instances of regressive taxation, reform domestic tax laws, introduce tax incentives for investments in infrastructure and the capital market, support small businesses in line with the ongoing Ease of Doing Business reforms and raise revenues for the government by various fiscal measures including a proposed increase in the rate of Value Added Tax from 5% to 7.5%.

Process Flow

National Assembly ⬤

Office of the President ⬤

Contacts

Approver

Ahmad Lawan

Senate President

National Assembly

Approver

Muhammadu Buhari

President of the Federal Republic of Nigeria

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Finance Bill, 2019 Current Version

January 2022

This bill proposes major fiscal reforms to promote fiscal equity by mitigating instances of regressive taxation, reform domestic tax laws, introduce tax incentives for investments in infrastructure and the capital market, support small businesses in line with the ongoing Ease of Doing Business reforms and raise revenues for the government by various fiscal measures including a proposed increase in the rate of Value Added Tax from 5% to 7.5%.

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