Nigerian govt rules out VAT increase beyond 7.5%

The Minister of Finance and the Coordinating Minister of the Economy, Wale Edun, said on Monday the Federal Government has not increased the Value-Added- Tax (VAT) to 10%.

Former Vice President Atiku Abubakar on Sunday condemned the planned increase in VAT as canvassed by the chairman of the presidential committee on fiscal policy and tax reforms, Taiwo Oyedele.

Oyedele had in a recent presentation to the government stressed the need for an increase of the VAT rate.

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