Nigerian House Rejects Tinubu’s Plan to double VAT rate to 15 percent

• House of Representatives rejected changes to consumption and company taxes proposed by President Tinubu.
• President Tinubu wanted to double VAT rate to 15 percent over six years.
• The goal was to fund the national budget and change revenue distribution.
• The lower chamber rejected the proposal, impacting President Tinubu’s efforts to increase government revenue and reduce borrowing.

Source: businesspost.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.

---

---