Nigeria to boost job creation via tax reduction for MSMEs

Nigeria will reduce the income tax rates payable by micro, small, and medium Enterprises (MSMEs) in the country to encourage more start-ups in the sector and boost job generation, a senior official said on Thursday.

0
tax
Tax

Kemi Adeosun, Minister of Finance, disclosed this in Abuja, Nigeria’s capital city when she received the newly-revised National Tax Policy (NTP) document.

The minister set up a 12-member committee to review the NTP, which was first drafted in 2012.

The new incentive for the MSMEs was part of the recommendations presented to the committee while the government would be happy to implement, Adeosun said.

Adeosun added that the new tax policy recommended the enactment of a number of legislation amendments, including the law on taxation of Real Estate Investment Trusts (REITs). Enditem

Source: Xinhua/NewGhana.com.gh

Send your news stories to newsghana101@gmail.com and via WhatsApp on +233 244244807 Follow News Ghana on Google News

LEAVE A REPLY

Please enter your comment!
Please enter your name here