The president has signed the 2019 Finance and the 2020 Appropriation Bills into law. The aim of the Finance Bill is to reform the nation's tax system so that it is in line with what is practiced globally, it also aims to supports small businesses through the initiative "Ease of Doing Business."
With this bill the government also seeks to increase its revenues and attract both foreign and local investments in infrastructure and capital markets.
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The 2020 budget was passed in December of 2019, while the Finance Bill was passed a month prior by both chambers of the National Assembly.
The signed Finance Bill will make the available tax provisions more responsive to the the imminent reform in tax policies.
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