Proposed VAT Amendment for Equitable Distribution: Taiwo Oyedele’s Message to Northern Governors

• Taiwo Oyedele, chairman of the presidential committee on fiscal policy and tax reforms, believes proposed amendment to VAT distribution will create a fair system
• Current model for distributing VAT based on location where tax is remitted, not where goods and services are supplied or consumed
• Oyedele aims to create fairer system by considering place of supply or consumption for goods and services
• Committee will collaborate with stakeholders to find balanced solution
• President Bola Tinubu proposed four tax reform bills, including Nigeria tax bill and tax Administration bill
• Northern governors urge national assembly to reject legislation that may harm region’s interests and call for equitable implementation of national policies to prevent marginalization of any geopolitical zone

Source: thecable.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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