.Ghana has a VAT Of 17.5%

ladyF:
Nooo impossible. The economy is hard enough for the common man already. Fuel price never come down. We go still buy fuel for gen and transport. Big NO.


[size=20pt] LadyF [/size] and nairalanders strongly object.

presentley:
Change!!

Buchukwu:
The zoo called Nigeria is collapsing. It should collapse fast fast.

ladyF:
Nooo impossible. The economy is hard enough for the common man already. Fuel price never come down. We go still buy fuel for gen and transport. Big NO.


[size=20pt] LadyF [/size] and nairalanders strongly object.

ladyF:
Nooo impossible. The economy is hard enough for the common man already. Fuel price never come down. We go still buy fuel for gen and transport. Big NO.


[size=20pt] LadyF [/size] and nairalanders strongly object.

Freemanan:
Nigeria plans to double the value-added tax rate to 10 per cent this year to help shore up government revenue eroded by the declining price of oil, the country’s main export, the Federal Inland Revenue Service said.

“The plan is to increase to 10 percent this year, but we have to consult first with relevant stakeholders,” Sunday Ogungbesan, Acting Executive Chairman of the FIRS, told reporters.

Nigeria depends on crude exports for about 70 per cent of government revenue and more than 90 percent of foreign exchange. The price of Brent crude has dropped by more than half since peaking in June last year, undermining President Muhammadu Buhari’s ability to deliver on his election promises since he took office in May.

FIRS will put more effort in meeting targets after its collection of 1.97 trillion naira ($9.9 billion) in revenue in the first half fell short of a goal of 2.29 trillion naira, Ogungbesan said.

“If we achieve our revenue targets, to a great extent government deficits will be reduced,” he said. “Our plan is to bring every business into the tax net, this economy can survive outside oil,” he noted.



www.vanguardngr.com/2015/08/fg-to-increase-vat-to-10/