Flash: Buhari signs 2019 Finance bill into law

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President Muhammadu Buhari on Monday signed the 2019 Finance Bill into law.

This was relayed by his social media side, Bashir Ahmad, in a tweet.

The law raises the Value Added Tax from 5% to 7.5%.

It also makes it mandatory for every bank account holder to have a Tax Identification Number.

The new law exempts companies earning below N25 million turnover from the payment of Companies Income Tax.