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Nigeria: Finance Act 2019 including significant economic presence concept entered into force

Policy overview

Description

Finance Act 2019 including significant economic presence concept entered into force

On 13 January 2020, The President signed the Finance Bill 2019 into law, and it entered into force. The Act introduces the concept of Significant Economic Presence (SEP) in Nigeria, ensuring that non-resident companies with a substantial economic fo…

Scope

Policy Area
Taxation
Policy Instrument
Direct taxes including Digital Service Taxes
Regulated Economic Activity
cross-cutting
Implementation Level
national
Government Branch
executive
Government Body
central government

Complete timeline of this policy change

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2019-11-28
under deliberation

On 28 November 2019, the House of Representatives passed the Finance Bill 2019 to the Senate. The B…

2019-12-11
adopted

On 11 December 2019, the Senate passed the Finance Bill 2019 and sent it to the President for assen…

2020-01-13
in force

On 13 January 2020, The President signed the Finance Bill 2019 into law, and it entered into force.…