Nigeria's President assented to the Finance Bill 2020 on 31 December 2020. The Act which takes effect from 1 January 2021 introduced amendments to several tax and fiscal laws including the Personal Income Tax Act (PITA) and the Capital Gains Tax Act (CGTA) affecting individuals. Broadly, the changes provide clarity to some previously grey areas, address areas of possible non taxation or double taxation and introduced an income exempt category.
We highlight the changes that will affect individuals and employers of labour in this alert.
Download PwC Tax Alert_ Implications of Finance Act 2020 for Individuals and employers_Jan2021
---------------------------------------------------------------------------------------------------------
PwC Tax247 App gives you access to over 60 tax & business laws on your mobile for free. Download here for Android or here for iOS. Watch other features and how to navigate the app here