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VAT remains 7.5% in Nigeria – Finance Minister, Edun

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Finance Minister,VAT

Nigeria's Minister of Finance, Wale Edun, on Monday, dismissed reports making the rounds that the rate for Value-Added Tax, VAT, has been adjusted to 10 percent from 7.5 percent.

Nigeria's Minister of Finance, Wale Edun, on Monday, dismissed reports making the rounds that the rate for Value-Added Tax, VAT, has been adjusted to 10 percent from 7.5 percent. Edun made this clarification in a statement he signed on Monday, affirming that the VAT rate as contained in relevant tax laws and chargeable on goods and services remains at 7.5 percent.

“Our focus as a government is to use fiscal policy in a manner that promotes and enhances strong and sustainable economic growth reduces poverty as well as makes businesses flourish. “The imputation in some media reports on the issue of VAT and the opinion articles that have sprouted from them seem to wrongly convey the impression that the government is out to make life difficult for Nigerians. 'That is not correct.

 

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