ARTICLE · 10 JULY 2018

FEC Approves Executive Orders On VAT And Excise Duties Alongside Five Amendment Bills

Deloitte Nigeria

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In a show of commitment towards reducing the tax burden and improving the ease of doing business for taxpayers, the FEC has approved two Executive Orders and five Amendment Bills touching on key provisions ...

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Deloitte Nigeria

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In a show of commitment towards reducing the tax burden and improving the ease of doing business for taxpayers, the Federal Executive Council (FEC or the Council) has approved two Executive Orders and five Amendment Bills touching on key provisions in the Nigerian tax and regulatory legislation. This communication was released by the Minister of Finance, Mrs. Kemi Adeosun, after the Council meeting on Wednesday, 6 June 2018.

The approval follows recommendations of the National Tax Policy Implementation Committee (NTPIC or the Committee), set up in April 2017 to carry out reviews of tax laws and regulations in accordance with the revised National Tax Policy. The overall aim of the new Executive Orders and amendment bills is to improve the ease of doing business in Nigeria by simplifying tax payment which will increase government revenue and ultimately grow the economy.

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