FG provides additional reliefs for businesses, individuals in proposed finance bill 2020
In its continued determination to cushion the socio-economic condition in the country even as the Economic Sustainability Plan (ESP) is in progress, the Buhari administration will be offering more tax incentives to Nigerians especially through the forthcoming 2020 Finance Bill.
Some highlights of the proposed bill include:
1. Reduction in duties on tractors from 35 to 10 per cent
2. Reduction in duties on motor vehicles for the transportation of goods from 35 to 10 per cent.
3. Reduction of levy on motor vehicles for the transportation of persons (cars) from 35 per cent to 5 per cent.