BREAKING: Senate Approves Buhari’s Request To Increase VAT
7 months ago Femi Olasunkanmi 0
The senate has approved the request by President Muhammadu Buhari to increase value added tax (VAT) from 5 percent to 7.5 percent.
The senate approved the request after Solomon Olamilekan, chairman of the finance committee, presented a report on a bill entitled ‘Nigeria tax and fiscal law’.
In September, the federal executive council (FEC) approved an increase in VAT and sent a bill to the national assembly for consent.