FG Clarifies: No Plans to Increase VAT to 10%, Emphasizes Commitment to Fiscal Stability

• Federal Government refutes speculation of VAT increase
• Minister of Finance clarifies that there is no proposal to raise VAT from 7.5% to 10%
• Current VAT rate remains unchanged
• Government focused on strengthening economy through sustainable policies
• Recent fiscal measures aim to alleviate economic hardship
• Ministry of Finance committed to transparent communication on tax and economic policy matters
• Future tax reforms will be announced through official government channels

Source: fmino.gov.ng

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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