Business
Shelve VAT increase plan for now, Tinubu tells FG
The National Leader of the All Progressives Congress (APC) Bola Tinubu has advised the Federal government to hold on with its plans to increase the Value Added Tax (VAT)
The former Lagos State Governor spoke on Thursday during the 11th Bola Tinubu Colloquium at the International Conference Centre, Abuja.
He pointed out that an increase in tax rate would increse spending capacity while hardship would linnger in the land.
Read also: FG, states, LGs share N619.8bn for February
Recall that the Minister of Budget and National Planning, Senator Udo Udoma, while appearing before the National Assembly after the approval of the N30,000 new minimum wage, said the government might be forced to increase VAT as a way to generate money to pay the new minimum wage.
This stand was suppporter by Chairman of the Federal Inland Revenue Service, Mr. Babatunde Fowler.
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