The Finance Act 2020 was signed into law by the President of Nigeria and according to the new finance Act 2020, those who are earning N 30,000 per month as salary or income are to be rejoicing because they have been exempted from paying personal income tax.
This is good news because the chances to increase savings and reschedule their budget has opened up.
Not only that alone, the Finance Act 2020 came with lots of different changes but we are more focused on what concerns us.
the law has helped all Nigerians who earn up to 30k or less to enjoy tax-free on personal income tax.
The new finance Act 2020 bill will help you
This is an opportunity to save more for the future, the percentage that normally goes into paying personal income tax can be added to the amount previously save or the percentage can be split into different sections of your monthly budgets.
It sounds cool right but do you know that every change made to Finance bill usually has its challenges and opportunities, individual should seek professional guidance to understand how the finance Act will create an impact on their finances.