Posted by Fred Itua, Abuja | 8 October 2019 | 564 times
Despite public outcry and the existence of the Communication Service Bill in the Senate, which intends to place a 9% tax on Nigerians, President Muhammadu Buhari has forwarded an amendment Bill to the National Assembly to raise Value Added Tax (VAT) on products from 5 to 7.5%.
The President made the disclosure on Tuesday when he presented the 2020 budget before a joint session of the National Assembly.
He said the proposed VAT increment will give more funds to the three tiers of government to provide physical and other infrastructure to Nigerians. (Daily Sun)
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