President Muhammadu Buhari on Tuesday presented the Finance Bill 2021 to the House of Representatives.
Buhari’s transmission of the Bill to the lawmakers was done pursuant to Sections 58 and 59 of the 1999 Constitution (as amended).
The Bill is proposing key reforms to taxation and Customs among other far-reaching decisions against the backdrop of the international oil price decline and effects of COVID-19 pandemic.
The House Speaker, Femi Gbajabiamila, communicated President Buhari’s letter at the opening of Tuesday’s plenary.
The bill seeks amendments to existing tax laws and financial regulations in response to the negative impact of the COVID-19 pandemic on the economy and the current recession.
Details later…