Senate passes Finance Bill 2020

Senate passes Finance Bill 2020

As Bill exempts aircraft engines, spare parts, others from Custom charges Chairman of the Joint Committee, Senator Solomon Adeola (Lagos West), in his presentation, said the Finance Bill 2020 specifically seeks to amend 17 key aspects of extant laws. According to the him, they are: Capital Gains Act; Companies Income Tax Act; Industrial Development (Income Tax Relief) Act; Personal Income Tax Act; Tertiary Trust Fund Act; Customs and Excise Duties Tariff; Value Added Tax Act; Stamp Duties Act; and Electronic Transaction Levy. Other areas amended are: Federal Inland Revenue Service…

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