Nigerian Federal Executive Council approves Economic Stabilization Bill with tax reforms.
The Nigerian Federal Executive Council has approved an Economic Stabilization Bill focused on boosting the economy through tax reforms and policy amendments. Key proposals include reducing the Companies Income Tax from 30% to 25%, allowing Nigerians to service foreign companies without local registration, and providing tax relief for firms hiring more workers. The bill aims to streamline the tax system and will be presented to the National Assembly for consideration.
September 23, 2024
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