The President, Major General Muhammadu Buhari has asked the National Assembly to exempt animal feed from the list of items that would attract payment of the Value Added Tax.
He stated this in a communication read on both chambers of the federal parliament by the presiding officers, Messrs Ahmad Lawan and Femi Gbajabiamila, on Tuesday.
The letter read, “Pursuant to Sections 58 and 59 of Constitution of the Federal Republic of Nigeria1 999 , I formally request that the Finance Act, 2019 Bill, be considered by the Senate, for passage into law.The bill clarified that the administrative effective date for the increase in Value Added Tax from 5 per cent to 7.5 per cent was February 1, 2020.
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