- 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.
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