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ARTICLE · 03 SEPTEMBER 2021

Matters Arising From Implementation Of Finance Act, 2020

KPMG in Nigeria
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The annual enactment of the Finance Acts clearly shows the Federal Government's commitment to review the extant tax laws and make progressive changes to Nigeria's fiscal frameworks to align them with economic realities and global best practices...

NigeriaFinance and Banking
Wole Obayomi
Wole Obayomi
Adewale Ajayi
Adewale Ajayi
Ajibola Olomola
Ajibola Olomola
Tayo Ogungbenro
Tayo Ogungbenro

The annual enactment of the Finance Acts clearly shows the Federal Government's commitment to review the extant tax laws and make progressive changes to Nigeria's fiscal frameworks to align them with economic realities and global best practices, and facilitate economic growth and development.

We have reviewed the vast changes to the extant laws by the Act and provided a comprehensive analysis of the impact on taxpayers in various sectors of the Nigerian economy in our e-book titled Finance Act, 2020: Impact Analysis, published in February 2021.

In June 2021, the Federal Inland Revenue Service (FIRS), commendably updated its earlier Information Circulars of April 2020 on Finance Act, 2019 with changes made by Finance Act, 2020 and issued new Circulars to provide guidelines on new amendments introduced by Finance Act, 2020.

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