House Moves to Place VAT Under Federal Control in Constitutional Amendment Bill

• The House of Representatives advanced a constitutional amendment bill to clarify taxation powers among federal, state, and local governments.
• The bill proposes placing Value Added Tax (VAT) under the Exclusive Legislative List, giving the federal government sole authority over VAT.
• The bill aims to define the scope of taxes and levies collectible by each tier of government and prevent multiple taxation and unlawful outsourcing of revenue collection.
• The bill seeks to ensure national uniformity, predictability, and a clear constitutional basis for VAT administration.

Source: businessday.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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