Nigerian President Muhammadu Buhari has signed into law a new bill that seeks to...
LAGOS - Nigerian President Muhammadu Buhari has signed into law a new bill that seeks to boost government revenue through a rise in the value-added tax rate while at the same time supporting small businesses in Africa’s biggest economy.
But raising more money from taxes has proved difficult in a country where most small businesses are not registered. The government has repeatedly said it wants to boost non-oil revenue since oil sales make up 90% of foreign-exchange receipts. Under the new law, the government will introduce a graduated tax scale for small businesses, with firms that generate less than 25 million naira in annual turnover exempt from corporate tax.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hong Kong rally seeks voting rights, international supportMore than a thousand people have attended a rally in Hong Kong to urge people and governments abroad to support the city's pro-democracy movement and oppose China's ruling Communist Party
Read more »
Apple has a new biggest bull — and he projects a 20% surge fueled by the upcoming 5G iPhone lineup | Markets InsiderApple has a new biggest bull after research firm D.A. Davidson lifted its price target to $375 per share, a new high among analysts covering the...
Read more »
4 ways to spend $100 today to be richer by this time next year - Business InsiderAn increasing net worth is a good sign of progress toward wealth, and that might be easier to accomplish than you think.
Read more »
Wild West: Firms interpret California’s privacy law as they see fitThe flurry of legal notices that accompanied the California Consumer Privacy Act point to regulatory and political drama ahead this election year
Read more »
Malta's new leader promises to keep strengthening rule of lawMalta's incoming leader Robert Abela promised to strengthen the rule of law...
Read more »