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VAT bill scales second reading in Ogun Assembly



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A bill seeking to empower the Ogun State government on the collection of Value Added Tax (VAT) on certain goods and services scaled second reading at the state House of Assembly on Tuesday.

The Clerk of the Assembly, Deji Adeyemo, read the bill for the first time during plenary in Abeokuta, while the Majority Leader, Yusuf Sherif, moved the motion for the second reading.

This was seconded by another lawmaker, Ganiyu Oyedeji.

The Chairman of the House Committee on Finance and Appropriation, Olakunle Sobukanla, who opened the debate on the bill, noted that the document was an avenue for the state to generate more revenue for its development.

READ ALSO: VAT defaulters to pay 10% as penalty under Finance Bill 2020

In his submission, Oyedeji said collection of VAT would allow the state to generate more revenue and meet the needs of the people.

The Speaker of the House, Olakunle Oluomo, commended the lawmakers for the deliberation, adding that the state needed the VAT law for economic development.

He forwarded the bill to the House Committee on Finance and Appropriation for further legislative actions.

Lagos State Governor, Babajide Sanwo-Olu, had last week signed the bill on VAT collection in the state.

The Rivers State government had also initiated the process for collection of VAT in its territories.

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