The Minister of Finance, Budget and National Planning, Zainab Ahmed, has stated that Micro and Small (MSMEs) with a turnover of less than N25 million will be exempted from Compànies Income Tax (CIT) under the New Finance Bill. The Minister of Finance said on a programme of the Nigerian Television Authority (NTA) on Monday.

According to her only companies earning over N25 million per annum would be.subjected to payment of tax. She said, “Our assessment is that any business that has a turnover of less than N25m needs that break, not being taxed so they can invest in their businesses.” Vanguard

Read more at: https://www.vanguardngr.com/2020/01/companies-with-less-than-n25m-turnover-will-not-pay-income-tax-%e2%80%95-finance-minister/

Kudos to the FG, if only it will work

Trust dishonest Nigerians to start understating their profits

Ope o, thanks a lot

I hope they will not deny this news tomorrow.

One benefit to the masses if not turned down at last.

What benefits do the companies receive in return for paying taxes to the FG?

A conducive environment? Security? Power? Infrastructure? Insurances? Grants?

This finance minister is 'thicker' than 'Kemi'

Wrong move… Compaies will start under reporting tax.


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ok