The Senate has on Thursday approved the increment of Value Added Tax (VAT) from 5% to 7.5%.
Recall that President Muhammadu Buhari sent a request to the Senate to approve the increment .
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.
- Ex AGF Adoke’s Trial Resumes In Abuja - August 11, 2020
- Facebook Sets Up New Unit Devoted To Financial Services - August 11, 2020
- Kano Sharia Court Sentences Singer To Death For Blasphemy On WhatsApp - August 11, 2020