What you need to know about Personal Income Tax Incentives in Nigeria

Tax incentives are special arrangements in the tax laws to attract, retain, or increase investments in a sector. Incentives may be granted on an industry basis.

To buttress on the definition; Tax incentives are deductions, exclusions or exemptions from a tax liability offered as an enticement to engage in a specified activity that would benefit the economy of a country in the long run.

In this piece, we have highlighted the relevant tax incentives related to the Personal Income Tax (PIT) in Nigeria including the relevant incentives in the 2019 Finance Act.