Tax Controversy & Dispute Resolution (TCDR) series- issue 2 Top 7 contentious issues resolved by the Finance Act 2019 On 13 January 2019, President Muhammadu Buhari signed the Finance Bill into law as the Finance Act 2019 (F.A 2019). The core objective of the F.A 2019 is to bring the law into conformity with the federal government's policies, bring federal tax laws in line with modern business realities and raise revenue to fund the 2020 budget. One of the major achievements of F.A, 2019 is amending ambiguous and outdated provisions in the principal federal tax laws.
In this edition of our Insights Series, we look at the top seven (7) ambiguous provisions in four (4) federal tax laws pre-F.A 2019, highlight the implications of these provisions, discuss the related case law and the changes introduced by F.A 2019 to cure the ambiguities. |
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