Friday 13 September 2019

Nigerian government hikes VAT to 7.2%, here's how it will affect citizens.

Zainab Ahmed, Nigeria's Minister of Finance,
The Nigerian government has approved an increase in Value Added Tax (VAT) rate from 5% to 7.2% to expand fiscal revenue in the country.

Zainab Ahmed, Nigeria's Finance Minister, Budget & National Planning stated this at the end of the weekly Federal Executive Council (FEC) on Wednesday, September 11th.


“This is important because the federal government only retains 15% of the VAT, 85% is actually for the states and local government and the state need additional revenue to be able to meet the obligations of the minimum wage.


By Aderemi Ojekunle.
Full story at Pulse NG.
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1 comment:

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