VAT: Falana Urges FG To Propose Money Bill Before Implementing Increase - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Editor 2
September 21, 2019
HumanRights Lawyer, Femi Falana, has called on the Federal Government to propose aMoney Bill to the National Assembly before the implementation of the increasein Value Added Tax,VAT.
Falanatold Newsmen in Abuja, said that the National Assembly erred by inviting theMinister of Finance and the Executive Chairman of Federal Inland RevenueService to clarify issues of VAT increment.
Accordingto him, provisions of the constitution states that the President ought to havepresented money bill to be passed by the NASS before the increment.
TheFederal Executive Council had last Wednesday approved the increment of VAT from5 per cent to 7.5 per cent.
TheMinister of Finance, Budget and National Planning, Zainab Ahmed, had explainedthat the increase would only begin after the VAT Act was amended by theNational Assembly and after consultations with the state and local governmentareas as well as the Nigerian populace.
Accordingto her, our projection is to finish consultations early enough so that it takeseffect in 2020.