The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) has warned that the recently passed 2022 finance bill will have a negative impact on the growth and development of the country's private sector.
January 27, 2023 9:48 AM
John Udeagbala, NACCIMA president, said this during the chamber’s ‘state of the nation’ press briefing held recently in Lagos.the 2022 finance bill, a legislation that proposes key reforms to specific taxation, customs, excise and fiscal laws. The bill is currently awaiting presidential assent. Udeagbala said it has been barely two years since the government raised the education tax from two percent to 2.5 percent.
The NACCIMA president added that there are other tax bills currently at the national assembly seeking to impose taxes and levies on business establishments and companies, such as the National Information Technology Development Agency levy, National Social Insurance Trust Fund, company income tax, among others.
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