October 6, 2024
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VAT

VAT stays at 7.5% –Wale Edun

Ajibola02 mins

On Monday, Mr. Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, refuted claims that the Value-Added Tax (VAT) rate has been raised from 7.5% to 10%. In an official statement, Edun affirmed that the VAT rate remains at 7.5%, in accordance with existing tax regulations. “The current VAT rate is 7.5%,…

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There is need to increase VAT rate- FG

Ajibola04 mins

The presidential committee on fiscal policy and tax reforms says there is a need to increase the value-added tax (VAT) rate. Speaking at the policy exposure and impact assessment session organised by the committee, the committee chairman, Taiwo Oyedele, also disclosed that the VAT revenue-sharing formula would be reviewed. Oyedele added that the committee has…

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