{"id":78851,"date":"2022-12-28T17:18:49","date_gmt":"2022-12-28T16:18:49","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/national-assembly-passes-finance-bill"},"modified":"2022-12-28T19:03:10","modified_gmt":"2022-12-28T18:03:10","slug":"national-assembly-passes-finance-bill","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/policy\/national-assembly-passes-finance-bill","title":{"rendered":"National Assembly passes Finance Bill"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Nigeria. <\/strong><\/span>The National Assembly has passed the Finance Bill that proposes key reforms to specific taxation, excise, customs and fiscal laws.<\/p>\n<p>The bill amends several laws namely the Capital Gains Tax Act, Personal Income Tax Act, Companies Income Tax Act, Stamp Duties Act, Petroleum Profits Tax Act, Value Added Tax, and Public Procurement Act.<\/p>\n<p>Chairman of the Finance Committee, Senator Solomon Adeola, presenting a report on the Finance Bill, noted that the bill is intended to enhance tax equity by bringing more economic sectors into the tax net and ensuring a fairer distribution of revenue receipts to all tiers of government.<\/p>\n<p>The bill also seeks to change the name of the Federal Inland Revenue Service, FIRS, to Nigeria Revenue Service.<\/p>\n<p>The board is to be headed by a chairman who is separate from the management, while management will be headed by a chief executive who will be known as the Commissioner General.<\/p>\n<p>Also, the bill increases the rate of the tertiary education trust fund tax from 2.5% to 3%.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/nigeria\">Nigeria<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Nigeria. The National Assembly has passed the Finance Bill that proposes key reforms to specific taxation, excise, customs and fiscal laws. The bill amends several laws namely the Capital Gains Tax Act, Personal Income Tax Act, Companies Income Tax Act, Stamp Duties Act, Petroleum Profits Tax Act, Value Added Tax, and Public Procurement [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":78850,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,14],"tags":[1570,2140,670,254],"class_list":["post-78851","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-africa-press","tag-africa-press-nigeria-2","tag-national-assembly","tag-nigeria"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>National Assembly passes Finance Bill - Nigeria<\/title>\n<meta name=\"description\" content=\"The National Assembly has passed the Finance Bill that proposes key reforms to specific taxation, excise, customs and fi ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/policy\/national-assembly-passes-finance-bill\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"National Assembly passes Finance Bill\" \/>\n<meta property=\"og:description\" content=\"The National Assembly has passed the Finance Bill that proposes key reforms to specific taxation, excise, customs and fi ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/policy\/national-assembly-passes-finance-bill\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2022-12-28T16:18:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-28T18:03:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2022\/12\/postQueueImg_1672235333.59.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"675\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/national-assembly-passes-finance-bill#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/national-assembly-passes-finance-bill\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"National Assembly passes Finance Bill\",\"datePublished\":\"2022-12-28T16:18:49+00:00\",\"dateModified\":\"2022-12-28T18:03:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/national-assembly-passes-finance-bill\"},\"wordCount\":183,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/national-assembly-passes-finance-bill#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2022\/12\/postQueueImg_1672235333.59.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Nigeria\",\"National Assembly\",\"Nigeria\"],\"articleSection\":[\"all news\",\"Policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/policy\/national-assembly-passes-finance-bill#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/national-assembly-passes-finance-bill\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/national-assembly-passes-finance-bill\",\"name\":\"National Assembly passes Finance Bill - 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