Finance bill when passed into law will raise country’s VAT ― Buhari

Finance bill when passed into law will raise country’s VAT ― Buhari

President Muhammadu Buhari says the Finance Bill 2019 he forwarded to the National Assembly, when passed into law, will permit government to raise the country’s Value Added Tax (VAT) from 5 to 7.5 per cent.

The Nigerian leader disclosed this when he presented the 2020 Appropriation Bill to the joint session of the National Assembly in Abuja on Tuesday.

He said: “The draft Finance Bill proposes an increase of the VAT rate from five per cent to 7.5 per cent  As such, the 2020 Appropriation Bill is based on this new VAT rate.

Continue reading Finance bill when passed into law will raise country’s VAT ― Buhari at Vanguard Nigeria.

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