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Nigeria’s VAT Performance Is Lowest In West Africa – FG - Politics - Nairaland

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Nigeria’s VAT Performance Is Lowest In West Africa – FG by jullary(m): 10:46am On Jul 12, 2023
The federal government has said that the performance of the Value Added Tax in Nigeria is the lowest in the West African region.

Director of Tax Policy in the Federal Ministry of Finance, Budget and National Planning, Basheer Abdulkadir, disclosed this during the opening event of a three-day workshop on the harmonisation of Nigeria’s VAT Act with ECOWAS directives. The event was organised by the ECOWAS Commission under the context of implementation of support Programme for Tax Transition in West Africa.
Abdulkadir who said that the low VAT performance is worrisome, noted that the country’s VAT rate was less than one per cent to the Gross Domestic Product.

He said;

“Our VAT performance or rate is still one of the lowest. Nigeria has a VAT of less than one per cent to the GDP and this is worrisome. Also, we have the lowest VAT within the sub-region with an average of 16 per cent, while VAT rate in Nigeria is 7.5 per cent. So we need a lot of policy changes on tax administration as we also need to come up with strategies to address some of these issues.

“Also, the exemptions of VAT in Nigeria is not aligned with those of ECOWAS and we know that these exemption are some of the issues to do with revenue mobilisation under the VAT. We need to align our exemptions with ECOWAS directive.”

https://www.lindaikejisblog.com/2023/7/nigerias-vat-performance-is-lowest-in-west-africa-fg.html
Re: Nigeria’s VAT Performance Is Lowest In West Africa – FG by inoki247: 10:51am On Jul 12, 2023
Lol that's true so una wan follow other West Africa countries sha remember to also provide 247 electricity like them...

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Re: Nigeria’s VAT Performance Is Lowest In West Africa – FG by CodeTemplar: 11:00am On Jul 12, 2023
Because there is little or no value addition within the system. We just share oil proceeds.
Re: Nigeria’s VAT Performance Is Lowest In West Africa – FG by Essenza01: 11:17am On Jul 12, 2023
Since we are talking statistics...

Nigerians minimum wage is lowest in West Africa...
Nigeria unemployment is 44%
Nigeria underemployment number is over 40%
Nigeria out of school children is over 10m
Nigeria extreme poverty number is above 130m

Where do you want the VAT to come from?

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Re: Nigeria’s VAT Performance Is Lowest In West Africa – FG by saintopus(m): 11:47am On Jul 12, 2023
So wetin una wan do na?

Una wan increase VAT again?

This impending increase in VAT shall favour me and my family
Re: Nigeria’s VAT Performance Is Lowest In West Africa – FG by helinues: 11:49am On Jul 12, 2023
No be lie

Even out taxation should also be one of the Lowest
Re: Nigeria’s VAT Performance Is Lowest In West Africa – FG by Mabizeka: 11:54am On Jul 12, 2023
helinues:
No be lie

Even out taxation should also be one of the Lowest
Hi, do you need my help?
Re: Nigeria’s VAT Performance Is Lowest In West Africa – FG by helinues: 11:57am On Jul 12, 2023
Mabizeka:
Hi, do you need my help?

Stop creating nuisance on this forum by trolling others for years.

Go and help you life so that you can stop trolling others
Re: Nigeria’s VAT Performance Is Lowest In West Africa – FG by Mabizeka: 11:58am On Jul 12, 2023
helinues:


Stop creating nuisance on this forum by trolling others for years.

Go and help you life so that you can stop trolling others
Don't you want to be useful and engaged?
Re: Nigeria’s VAT Performance Is Lowest In West Africa – FG by SOSinNigeria: 11:59am On Jul 12, 2023
Lol, Nigerians have entered one chance with this rogue government. They will use propaganda to keep brainwashing the people while they continue to die everyday grin grin

Una never see anything. When a fraudstar is your president, scam becomes order of the day cheesy cheesy

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Re: Nigeria’s VAT Performance Is Lowest In West Africa – FG by SmartPolician: 1:27pm On Jul 12, 2023
They are only looking for ways to justify increased taxes.

Apparently, Tinubu doesn't care about the welfare of Nigerians.

1 Like

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