CAMA 2019: Tax Implications And Considerations

The Nigerian economy has not been left out of the various improvements in technology and innovation leading to more efficiency and effectiveness. Several measures have been introduced in various sectors of the economy to improve customer experience and ease of doing business.

This notwithstanding, many of the Nigerian Laws have not been amended to provide the legal framework required to support the business improvements experienced in the economy. The Companies and Allied Matters Act, 1990, which was enacted thirty years ago, was one of those laws that needed to be amended to provide the necessary framework for doing business in Nigeria in line with the times.

Several events have necessitated the repeal of the Companies and Allied Matters Act, 1990. The outdated statute embodied provisions that among other things, were generally adjudged as unfriendly to micro, small and medium enterprises, with huge time and cost implications and ultimately impeding the ease of