Nigeria's Value Added Tax Increase, Understanding The Proposed Hike

The Federal Executive Council on September 11 approved 7.2 per cent as new Value Added Tax rate for the country, up from the current 5 per cent.

However the decision is yet to take effect as consultations are still ongoing .

The proposal has generated mixed reactions from Nigerians.
Gist Nigeria assessed the arguments and analysed its impact on the economy.

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