Zainab Ahmed

The Minister of Finance, Budget and National Planning, Zainab Ahmed, has stated that Micro and Small (MSMEs) with a turnover of less than N25 million will be exempted from Compànies Income Tax (CIT) under the New Finance Bill.

The Minister of Finance said on a programme of the Nigerian Television Authority (NTA) on Monday.

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According to her only companies earning over N25 million per annum would be.subjected to payment of tax.
She said, “Our assessment is that any business that has a turnover of less than N25m needs that break, not being taxed so they can invest in their businesses.”

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