FG Proposing Law To Increase VAT To 10% For Nigerians — Taiwo Oyedele
Politics tamfitronics FG Proposing Law To Increase VAT To 10% For Nigerians — Taiwo OyedeleNewsFG Proposing Law To Increase VAT To 10% For Nigerians — Taiwo OyedelePublished 15 hours agoon September 3, 2024Politics tamfitronics The Federal Government is planning to propose a law to the National Assembly to raise the value-added tax (VAT) from 7.5% to 10%.The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele disclosed this during an interview on Channels TV’s “Politics Today.”He also revealed that the committee is working on combining various taxes in Nigeria to reduce the overall tax burden.Oyedele stated that several existing taxes, like the IT levy and education tax, will be consolidated into one tax, starting at 4% and eventually reducing to 2% in the coming years.According to him, the draft tax law prepared...
