Former Vice President and presidential candidate of the Peoples Democratic Party (PDP), Alhaji Atiku Abubakar has criticised the federal government over a planned increase in Value Added Tax (VAT), from 7.5% to 10% despite the hardship Nigerians have been experiencing in the last one year.
Atiku’s condemnation came after the Presidential Fiscal Policy and Tax Reforms Committee (PFPTRC) chaired by Taiwo Oyedele, last week announced plans to propose a law to the National Assembly that would increase the Value Added Tax (VAT) rate from the current 7.5 per cent to 10 per cent.
Speaking on a television programme, Oyedele had revealed that his committee was also working on consolidating the multiple taxes in Nigeria to streamline the tax system and ultimately reduce the tax burden on citizens and businesses.
