Upward Review Of VAT From 5% To 10% By Federal Government?

Upward Review Of VAT From 5% To 10% By Federal Government?

09:16

There are indications that there will be an upward review of the usual 5% Value Added Tax, VAT, by the federal government.

According to reports from Leadership newspaper, the Federal Inland Revenue Service, FIRS, say this has become necessary to help increase government revenue affected by the declining price of oil.


However, acting Executive Chairman of the FIRS, Sunday Ogungbesan, told reporters that they still have to consult with relevant stakeholders.

Hmnnn....biko we are part of the stakeholders aren't we? Oya over to una yes or no to the increase?

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