Vice- President Yemi Osinbajo has said the decision of the Federal Government to slash taxes was aimed at making the nation’s economy more attractive to investors.
Declaring open the third edition of the Nigeria Diaspora Investment Summit held virtually on Friday, Osinbajo said the tax incentives in the proposed 2020 Finance Bill include reduction in duties on tractors from 35 to 10 per cent; reduction in duties on motor vehicles for the transportation of goods from 35 to 10 per cent and reduction of levy on motor vehicles for the transportation of persons from 35 per cent to 5 per cent.
Acknowledging the efforts of the Chairman of the Nigerians in Diaspora Commission Abike Dabiri-Erewa, particularly in harnessing the resources and talents of Nigerians abroad, Osinbajo said “the diaspora initiatives that we have, and all of your efforts are certainly appreciated and will result to a stronger economy for Nigeria and a better country.”
She noted, “The Summit is an avenue to expose the Nigerians in diaspora to key into the following investment sectors: Healthcare, Education, Agribusiness, Creative Entertainment and Sports, Telecommunication, ICT/Fintech and Manufacturing.”
Source: Financial Digest (financialdigest.net)
Increasing or reducing Tax doesn't make the economy attractive. Leadership style and responsible government does.
They will reduce for foreign investment but increase tax for people trying to survive... like what is happening. I hope people see these things not just the headlines. News column will write what they want you to here...
How much is my pastor and Prof paying monthly for tax
With due respect you and your boss are a big failour to Nigerians. Even if your boss is daft what about you? Talking about tax reductions...do you know your country has entered recession? You are a disappointment sir. Please convey this msg to Buhari.
Great move!
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Tax reduction designed to make Nigerian economy attractive. I was glad to know during the conference that Nigerians in diaspora will be coming home with mega investment.
Oga pastor professor osibanjo park well and eat your food and stop been used . What a greedy man you are
What you should know about the 2020 finance bill
Economy is dead this one is talking about attraction
Reduction in duties on tractors from 35 to 10%; reduction in duties on motor vehicles for the transportation of goods from 35 to 10% and reduction of levy on motor vehicles for the transportation of persons (cars) from 35 to 5%. Sincerely, this is commendable. Thanks Prof.
Osinbajo, u have forgotten that u are a minister of d gospel. Y did u align urself with this lie lie govt. Are u telling us that Nigeria is not in recession . Resign now 4rm this evil govt. We are in trouble being ruled by hausa/ fulani with no mgt ideas. Sorry Sorry mr VP.
What's this one saying? So he is still in this country
Can we just encourage local production of tyres and car accessories too..
Baba recession ti wole
which Nigeria? definitely not the one your government hiked all taxes in 2020!
You are talking in the rubbish.
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