The Federal Executive Council on Wednesday, 1st February, 2017 approved the revised National Tax Policy (NTP). The Policy is expected to guide the operation and review of the Nigerian Tax System and provide the basis for future tax legislation and administration.
The Policy
addresses measures regarding guiding principles of the Nigerian Tax System, the
responsibilities of stakeholders in the Nigerian Tax System, Tax Administration
and Implementation amongst others.
The Minister
of Finance, Mrs. Kemi Adeosun, disclosed to State House Correspondents on Wednesday,
1st February, 2017 that the main thrust of the tax policy is to
establish fundamental principles to guide and orderly develop the Nigerian Tax
System towards meeting its objectiveness.
The Minister
also disclosed plans to increase Value Added Tax on certain luxury items at a
rate to be determined by the National Assembly.
Download the
Amendment Regulation here: https://dochub.com/taxmasterstraining/vvDNE2/national-tax-policy?dt=1x1np46vr09vbqax
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