The Senate Committee on Finance says it will invite the Minister of Finance, Zainab Ahmed; and the Chairman, Federal Inland Revenue Service, Babatunde Fowler, to provide reasons for the proposed in...
The Senate Committee on Finance says it will invite the Minister of Finance, Zainab Ahmed; and the Chairman, Federal Inland Revenue Service, Babatunde Fowler, to provide reasons for the proposed increase in Value Added Tax.
Adeola said the invitation was hinged on the proposed plan to increase VAT from 5 per cent to 7.2 per cent. Adeola said the proposed increase in VAT had generated mixed reactions among the public on its possible effects on living standards and the economy. “But we are concerned about the current economic situation of the country as it affects the generality of the people.”
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