Senate Passes Two Tax Reform Bills, Rejects VAT Increase

• The Senate passed two tax reform bills: Nigeria Revenue Service Bill and Joint Revenue Board Bill.
• The Senate rejected increasing VAT from 7.5 percent to 10 percent.
• VAT revenue-sharing: Federal Government 10 percent, state governments and FCT 55 percent, local governments 35 percent.

Source: thewillnews.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.

---

---