President Muhammadu Buhari has signed the Finance Bill into law.
He disclosed this via his verified Twitter handle.
“I am pleased to announce that this morning I signed into Law the Finance Bill, 2019,” he tweeted.
The Senate had on November 21 passed the Finance Bill 2019, which increased the rate of Value Added Tax(VAT) from five per cent to 7.5 per cent and equally streamlined the nation’s tax regime.
The Finance Bill was presented alongside the 2020 Appropriation Bill to the National Assembly by President Muhammadu Buhari on October 8, 2019.