Nigeria: Direct and indirect tax changes in Finance Act 2023
Finance Act 2023 introduces a number of changes to tax legislation
Finance Act 2023 introduces a number of changes to tax legislation
The Finance Act 2023 was signed into law on 28 May 2023.
The Act, which has an effective date of 28 May 2023, introduces changes to the following pieces of tax legislation:
- Capital Gains Tax Act
- Companies Income Tax Act
- Tertiary Education Tax Act
- Customs, Excise Tariff, Etc. (Consolidation) Act
- Personal Income Tax Act
- Petroleum Profit Tax Act
- Value Added Tax (VAT) Act
- Stamp Duties Act
- Corrupt Practices and Other Related Offences Act
- Ministry of Finance Incorporated Act
- Public Procurement Act
Read a June 2023 report [PDF 895 KB] prepared by the KPMG member firm in Nigeria that discusses some of the specific changes introduced.
Read a July 2023 report [PDF 23.4 MB] (28 pages) prepared by the KPMG member firm in Nigeria that provides a more in-depth analysis of the Finance Act, 2023.
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