Experts Praise FG for VAT Exemption on 63 Items, Urge Transparency and Implementation Care

• Economists commend FG for exempting 63 items from VAT
• Samuel Agbelaye, president of CITAN, believes the VAT exemption will yield positive results
• Financial experts support the government’s move, saying it will promote economic growth
• Experts advise on transparency and careful implementation of the policy
• Tunde Adeoye from the University of Lagos sees the VAT exemption as a positive fiscal measure
• Adeoye emphasizes the need to address revenue leakages and increase oil production
• Agbelaye states that the VAT exemption will increase productivity and create job opportunities
• Muda Yusuf from CPPE commends the VAT exemption as a step in the right direction
• Yusuf notes that while the exemption is positive, larger business issues still need to be addressed
• The federal government announced the exemption of 63 items from VAT on October 3, 2024.

Source: gazettengr.com

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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