The National Economic Council (NEC) has endorsed the Finance Bill 2022.
The bill is expected to be passed along with the 2022 Appropriation Bill.
The NEC meeting was presided over by the Vice President, Professor Yemi Osinbajo (SAN), and was composed of the governors, the Federal Capital Territory (FCT) minister, the Central Bank of Nigeria (CBN) governor and other officials.
A statement by the Vice President’s Senior Special Assistant on Media and Publicity, Mr Laolu Akande, said highlights of the bill were presented to the Council by the Minister of Finance, Budget, and National Planning, Mrs. Zainab Ahmed.
The minister stated that some of the proposed legislative changes cover domestic revenue mobilisation, closing tax loopholes, public financial management, tax administration reforms and international taxation issues.
She added that some of the principles of the proposed Finance Bill 2022 are to ensure fiscal equity, avoid double taxation, and support businesses especially MSMEs.
