Federal government to grant tax relief to COVID-19 fund donors

The federal government has proposed to grant tax relief to companies that donated to the COVID-19 relief fund under the private sector coalition, CACOVID.

The government also has proposed exemption of small companies from payment of education tax under the Tertiary Education Trust Fund, Tetfund-companies with less than n25 million turnover are eligible.

This is as the government yesterday presented the finance bill 2020 which was approved by the Federal Executive Council, FEC, to the National Economic Council, NEC.

The government gave reasons why food stuffs are soaring.

The approved finance bill 2020 that was presented to the governors is seeking to provide more tax incentives for Nigerian businesses and individuals.

This was contained in a statement issued by the senior special assistant to the president on media and publicity, office of the vice president, Laolu Akande, at the end of the virtual NEC meeting.