Nigerian Parliament Considering 2019 Finance Bill

The Nigerian parliament is currently considering the 2019 Finance Bill, which reportedly passed its second reading in the Senate on 6 November 2019. The Finance Bill includes measures for the implementation of the 2020 Budget. Further to the measures {News-2019-10-17/P/4-previously reported}, the Finance Bill also includes:

• A corporate income tax exemption for small businesses with turnover below NGN 25 million;
• A reduced corporate income tax rate of 20% for medium-sized businesses with turn…