The Nation Newspaper We need to raise VAT rate, says Taiwo Oyedele
The chairman of the presidential committee on fiscal policy and tax reforms, Taiwo Oyedele, has said that there is a need to raise the value-added tax rate.Oyedele spoke at a policy exposure and impact assessment seminar organised by the committee.
“So we must make it transparent and neutral and this is what over 100 countries where they have VAT are doing.“Nigeria’s economy is more than 50 percent in services and if I just stop at this, many states will be broke because VAT collection will go down by more than 50 percent and it won’t even fly.
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