Tier four institutions call for amendment of microfinance law
They said unlike the commercial banks which are allowed impairment deductions under the Income Tax Act, microfinance institutions' impairments are instead added back to their income and taxed
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Tier four institutions call for amendment of microfinance law
By NewVision Reporter
Journalists @NewVision
None deposit-taking institutions are seeking to amend the Tier four Microfinance Institutions and Money Lenders Act, to allow them deductions on impairments during tax assessment, and ultimately reduce their cost