Busola AroTaiwo Oyedele, chairman of the presidential committee on fiscal policy and tax reforms, announced that withholding tax (WHT) exemptions have been gazetted, providing relief for businesses earning N25 million annually and below. The exemption will help businesses with working capital and ease compliance burdens.
Busola AroTaiwo Oyedele, chairman of the presidential committee on fiscal policy and tax reforms, says withholding tax exemptions have been gazetted.
Withholding tax is an advance payment of income tax which may be used to offset or reduce tax liabilities, according to the Federal Inland Revenue Service .Advertisement “Withholding tax exemptions has been gazetted. The only reason why it hasn’t been published today is because it’s a public holiday,” he said.
Withholding Tax Exemptions Nigeria Businesses Economy
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