2020 budget: Experts express worry over 7.5 per cent VAT estimates

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Some economic experts have expressed concern over the Federal Government’s decision to base the estimated revenue from Value Added Tax in 2020 by 7.5 per cent instead of five per cent.

recalls that the Federal Executive Council had recently approved the increment of VAT from 5 per cent to 7.5 per cent, which many said would cause more hardship on poor Nigerians.

“VAT is a multi-level tax on consumption and the burden rest on the final consumer and not the business so the people are the ones who will bear the brunt of the increase. He said that as much as increasing revenue was important, it should not be done at the expense of the people.

 

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I understand why MBuhari wife aishambuhari bailed on his ass. Nasty advisors in cenbank and FinMinNigeria try to sneak in VAT. Didn't the Fin Minister say they're in consultation with communities did they do the 36 States and FCT. NGRSenate and HouseNGR must amend this Bill

Dat interested

not only expects o, most Nigerians ni joo! Multiple taxation ki lo de gan? MBuhari

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