Nigeria - Deferment of the Commencement Date of Finance Act 2023
President Bola Ahmed Tinubu on Thursday, 6 July 2023, signed four (4) Executive Orders, among which is the Finance Act (Effective Date Variation) Order 2023.
The Finance Act 2023 was signed by the former President on 28th May 2023. The new effective date of the recently passed Finance Act 2023 has now been postponed till 1 September 2023. The rationale behind this is to allow for the 90-day notice requirement in the event of changes in tax laws, as contained in the 2017 National Tax Policy document.
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