7.5 per cent increase in VAT remains lowest in Africa – Osinbajo
Nigeria’s Vice President, Yemi Osinbajo, has said that the 7.5 per cent value-added tax in the country, remains the lowest in Africa.Speaking in Lafia, the Nasarawa State capital, Osinbajo explained that no payment of VAT on food, drugs and educational items.
“The new value-added tax which has gone up from 5% to 7.5%, many people have said it is higher tax burden on the consumers and of course it has implications for those who are trading as well.
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