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Nigeria: Buhari, Ministers Approve Increase in Nigeria's VAT
Premium Times, 11 September 2019
The Federal Executive Council on Wednesday approved an increase in the Value Added Tax (VAT) payable in Nigeria. Read more »
The Federal Executive Council has approved an increase in the nation's Value Added Tax from 5% to 7.2% effective next year. According to the Minister of Finance, Zainab Ahmed, revenue generated from the increase will help states pay the new minimum wage. The minister, however, noted that until the National Assembly approved the increment it is just a proposal.
Value Added Tax - VAT
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