- Federal government proposing to increase VAT from 7.5% to 10%
- Executive bill to make the increase legal is before the National Assembly
- National Assembly seeking to raise VAT to 10% by 2025, 12.5% by 2026-2029, and 15% from 2030 onwards
- VAT to be charged on all taxable supplies at the specified rates
- Chairman of presidential committee on fiscal policy and tax reforms previously stated that VAT rate needs to be increased
Source: naijanews.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
