FG Proposes Increase Of VAT From 7.5% To 10%

FG Proposes Increase Of VAT From 7.5% To 10% …C0NTINUE READING HERE >>>

The federal government is proposing to increase the Value Added Tax (VAT) from 7.5 percent to 10 percent.

The executive bill to effect the increase and make it legal is already before the National Assembly, Henzodaily understands.

According to a report published by The Cable on Sunday, the National Assembly is seeking to raise VAT to 10 percent by 2025. It also seeks to increase the VAT to 12.5 percent by 2026 through 2029, and 15% as from 2030 according to the document seen by the platform.

“VAT shall be charged on the value of all taxable supplies at the following rates (a) 2025…

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