Awake Digest

The Tax Reform Bill of the Bola Tinubu Administration is a comprehensive overhaul of Nigeria's tax laws, aimed at simplifying tax administration, reducing tax burdens, and increasing revenue generation, if what government officials say is to be trusted. Here Are The Key Provisions Of The Bill The five key provisions of the Tinubu Administration's Tax Reform Bill include: Reduction in personal income tax Reduction in company profit tax Progressive VAT Redesign of capital gains tax Streamlining of taxation of income from mining and petroleum operations Let's briefly explain what all this means. 1. Reduction in Personal Income Tax The bill proposes to reduce personal income tax rates, exempting individuals earning below ₦800,000 annually from paying income tax. If the bill scales through, the new tax rates will be as follows: First ₦800k p/a – 0% Next N2.2m p/a  – 15% Next N9m – 18% Next N13m p/a – 21% Next N25m p/a – 23% Above N50m p/a – 25% 2. Reduction in Company Profit Tax...

Neal Morgan, a Facebook user, recently became a proud first-time dad. But, he's also curious about what to expect and how to respond to situations that must crop up in his new life role. So, he went to a parenting-themed group he belongs to and asked for advice. " New dad to be here, " he wrote. " What's the best advice for new parents? " As you can see, Neal has at least 60 older parents offering their spontaneous "best advice" on the question. After going through the pieces of advice offered to Neal on the spot, I see so many unique insights that other new (and even old) parents need to know. So, here below, I share these insights in a more organized format with screenshots and commentaries. See this as reading a parenting "best advice" book with over 60 experienced parents contributing their voices freely and backed by constructive commentary. As a result, expect the entire story to be a bit long. But, it will be presented ...