Federal Gov’t Slashes Corporate Taxes, Raises Income Tax To 25%

Federal Gov’t Slashes Corporate Taxes, Raises Income Tax To 25% …C0NTINUE READING HERE >>>

The federal government has disclosed plans to reduce corporate income taxes from 30 per cent to 25 per cent in a drive to lessen the burden of taxation on corporate organisations.

The government also announced that it has commenced the process to raise the personal income tax of high income individuals – earning up to N100 million monthly – to 25 per cent, with those earning from N1. 5 million to now pay 19 per cent as income tax while those earning below N1 million monthly would be exempted from the personal income tax regime.

Chairman of the Presidential Committee on Fiscal Policy…

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