Nigeria - 2019 - Finance

Finance Bill, 2019

Ministry of Finance, Budget and National Planning, Nigeria

This bill proposes major fiscal reforms to promote fiscal equity by mitigating instances of regressive taxation; reforming domestic tax laws; introducing tax incentives for investments in infrastructure and the capital market; supporting small businesses in line with the ongoing Ease of Doing Business reforms; raising revenues for the government by various fiscal measures including a proposed increase in the rate of Value Added Tax from 5% to 7.5%.

Process Flow

National Assembly ⬤

Office of the President ⬤

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Finance Bill, 2019 Current Version

January 2022

This bill proposes major fiscal reforms to promote fiscal equity by mitigating instances of regressive taxation; reforming domestic tax laws; introducing tax incentives for investments in infrastructure and the capital market; supporting small businesses in line with the ongoing Ease of Doing Business reforms; raising revenues for the government by various fiscal measures including a proposed increase in the rate of Value Added Tax from 5% to 7.5%.

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