VAT increase in Nigeria
If Government increases taxes by x%, it doesn't mean Government revenues will increase by x%. People might consume less due to the higher costs of goods, leading to less IGR. Ban fx for all food imports Close all borders Increase VAT In Nigeria, there are two kinds of people: those who defend government because they benefit from it & those who criticize it ONLY because they are excluded from it, not because they have fundamental disagreements with policies.They are both unprincipled opportunists “The Federal Executive Council (FEC), presided over by President Muhammadu Buhari approved a two per cent increase in Value Added Tax (VAT) to move it from five to seven percent. Minister of Finance, Budget and National Planning, Zainab Ahmed, made this disclosure while briefing State House Correspondents at the end of the meeting which started at 11am and ended at 6:12pm. Ahmed, however, said the implementation will not start until the approv...