The Nigerian 2019 Finance Act: The Good and the Flip Sides

Akintoye, R.I., Oyebamiji, T.A., Chukwuma, U.J., Abiahu, M.F.C. & Awogbade, A. (2020). The Nigerian 2019 Finance Act: The Good and the Flip Sides. Lagos: Chartered Institute of Taxation of Nigeria, CITN RESEARCH PUBLICATION SERIES No. 2

102 Pages Posted: 28 Mar 2021

See all articles by Prof. Rufus Ishola Akintoye

Prof. Rufus Ishola Akintoye

affiliation not provided to SSRN

Mary-Fidelis Chidoziem Abiahu

Nnamdi Azikiwe University - Department of Accountancy

Adefisayo Awogbade

affiliation not provided to SSRN

Date Written: March 1, 2020

Abstract

It is no more news that various comments have been passed on the 2019 Finance Act both at the proposal stage and even now after signing the Bill into an ACT by the Federal Government of Nigeria. Many of these comments are subjective, incoherent and casual not based on any epistemological platform necessary for sustainability as in many previous policy documents in Nigeria. It is therefore not surprising that most of those policies were unable to produce desired results, short-lived and abandoned. There is therefore the need for a comprehensive discourse based on a globally acceptable scientific framework that will assist not only its implementation but hedging against possible adverse multiplier effects in the near future. The CITN Professorial Chair brought together prominent academics, professionals and Doctoral Students on a 2-day round-table seminar to discuss the various implications of the New Act The meeting reconciled 'The Principal Acts' with the amendments in the "New Finance Act', drew implications and conclusions on various stakeholders with some challenges and where necessary. This is with a view to advising various organs and agents on the implementation of relevant sections of the ACT so as to hedge against risk/losses from ignorance. Drawing from various experiences of the participants, we came up with some advice and recommendations. The opinions expressed are the personal views of participants at the seminar based on their past experiences which are necessarily advisory. We do hope that this ‘Monograph’ which is the 2nd in the series will provide basic guides to the implementation of the ‘2019 Finance Act’. Thank you.

Keywords: The Nigerian 2019 Finance Act

Suggested Citation

Akintoye, Rufus Ishola and Abiahu, Mary-Fidelis Chidoziem and Awogbade, Adefisayo, The Nigerian 2019 Finance Act: The Good and the Flip Sides (March 1, 2020). Akintoye, R.I., Oyebamiji, T.A., Chukwuma, U.J., Abiahu, M.F.C. & Awogbade, A. (2020). The Nigerian 2019 Finance Act: The Good and the Flip Sides. Lagos: Chartered Institute of Taxation of Nigeria, CITN RESEARCH PUBLICATION SERIES No. 2, Available at SSRN: https://ssrn.com/abstract=3794576

Rufus Ishola Akintoye (Contact Author)

affiliation not provided to SSRN

Mary-Fidelis Chidoziem Abiahu

Nnamdi Azikiwe University - Department of Accountancy ( email )

Awka, Anambra 23400
Nigeria

Adefisayo Awogbade

affiliation not provided to SSRN

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