Preface
On 28 May 2023, His Excellency, former President Muhammadu
Buhari, GCFR, signed the Finance Bill,2023 into law as Finance Act,
2023.
The Finance Bill, 2023 was an Executive Bill prepared by the
then Honourable Minister for Finance, Budget and National Planning,
and presented by His Excellency, President Muhammadu Buhari,
together with the 2023 Budget proposals to the National Assembly.
Following several reviews and updates by both the Executive and
National Assembly, the Finance Bill, 2023 was signed by the former
President as Finance Act, 2023 (hereinafter referred to as
"Finance Act", "FA 2023" or "the
Act").
The Act introduces changes to the Capital Gains Tax (CGT) Act,
Companies Income Tax (CIT) Act, Personal Income Tax (PIT) Act,
Customs and Excise Tariff Etc. (Consolidation) Act (CETA), Value
Added Tax (VAT) Act, Petroleum Profits Tax (PPT) Act, Stamp Duties
Act (SDA), Corrupt Practices and other Related Offences (CPORO)
Act, Tertiary Education
