Babcock Business School (BBS) Review - Volume 1

Babcock Business School (BBS) Review - Volume 1

The Finance Act 2023 was signed into law by the immediate past president of Nigeria President Muhammadu Buhari on the 28th of May 2023 being the eve of his handover to the new administration of President Bola Ahmed Tinubu.

The Act amends relevant taxes and excise and duty statutes inline with the macroeconomic policy reforms of the Federal government and makes further provisions in specific laws in connection with the public financial management of the Federation. Changes span some provisions of the Capital Gains Tax (CGT) Act, Companies Income Tax (CIT) Act, Tertiary Education Tax (TET) Act, Customs, Excise Tariff, amongst others. 

We chronicle these changes, and the potential impact on Nigerian society and busineses. Furthermore, a recommendations to potential areas for any finance bill in 2024.

Newsletter Highlights: 

Impact and Implication of amendments to 

  • Petroleum Profit Tax
  • Capital Gains Tax
  • Value Added Tax
  • Stamp Duty
  • Customs Excise and Tariff
  • Personal Income Tax
  • Corrupt Practices and other related offences act
  • Companies Income Tax
  • Recommendations for Finance Act 2024


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