President Muhammadu Buhari has transmitted Finance Bill 2021 to the House of Representatives for consideration and passage.
The Speaker, Femi Gbajabiamila, read the letter at the opening of Tuesday’s plenary.
The bill proposes various amendments to existing tax laws and financial regulations in response to the negative impact of the COVID-19 pandemic on the economy.
One of the objectives of the 2020 finance bill is to provide financial relief for taxpayers by reducing the applicable minimum tax rate for two consecutive years of assessment as well as reforming the commencement and cessation rules for small businesses.
