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Micheal Olakunle Blog aim to provide news on politics, entertainment, sports in and across Nigeria.  

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VAT Increment: Government Should Think Twice - Idimogu

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A Lagos lawmaker, Honourable Jude Emeka Idimogu, has tackled the federal government for proposing to increase Value Added Tax (VAT) on imported and locally-produced goods from 5 to 10% . Honourable Jude Emeka Idimogu Idimogu, a representative of Oshodi-Isolo Constituency 2 at the Lagos State House of Assembly, asked the government to justify what it had spent previous taxes it collected over the years on before proposing an increase. He emphasized that the Nigerian economy is not ripe for any increment in VAT, and that a lot of business men and women are struggling to survive. The lawmaker also said the new administration must be seen as one that can bark and bite in the fight against corruption especially in the area of tax collection. He said: “Maybe the government is trying to boost their revenue generation considering the fact that the price of oil has fallen. “But the government should see if businesses are doing well as this will affect the staff of these b...
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