Nigeria Breaking News
Abuja — The House of Representatives has retained Value Added Tax, VAT, at 7.5 per cent and rejected a staggered increase to 15 per cent by 2030 as proposed in the Tax Reform Bills being debated at the National Assembly. The House also rejected the proposed reintroduction of inheritance tax under the guise of taxation of …
The Nigerian Governors’ Forum has thrown its weight behind the ongoing tax reform efforts in the National Assembly but with a crucial caveat: no increase in Value Added Tax (VAT). This stance, articulated in a communique issued following their recent meeting in Abuja, directly contradicts the federal government’s proposal to raise the VAT rate from 7.5% to 10%. …