- 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.
Latest Posts in "Nigeria"
- Nigeria’s 2025 VAT Reforms: Impact on Foreign Tech Firms and Local Tech Ecosystems
- Nigeria Extends E-Invoicing Compliance Deadline for Large Taxpayers to November 1, 2025
- Nigeria Extends E-Invoicing Compliance Deadline for Large Taxpayers to November 2025
- Nigeria Abolishes 5% Telecom Excise Duty to Boost Affordability and Service Standards
- Nigeria Abolishes 5% Excise Tax on Telecommunication Services
