Nigerian Govt to Increase VAT to Help Pay New Minimum Wage

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.

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Value Added Tax - VAT

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