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Nigerian Tax › Anglican bishop advises FG against increasing VAT

 April 25th, 2019  | Nigerian Tax

The Bishop of Ife Diocese, Anglican Communion, Ile-Ife, Osun State, Rt. Rev. Olubunmi Akinlade, has urged the Federal Government to drop the idea of increasing the rate of Value Added Tax by 50 per cent. The bishop said increasing the VAT from its current five per cent to 7.5 per cent would have multiplier economic effects on goods, services and livelihood.

Akinlade, in a statement on Friday, observed that implementing the increase would not be ideal in the light of the current economic situation in the country and the hardship most Nigerians were grappling with. The cleric stated that government at all levels needed to carry out economic and social projects that would impact the life of the citizens. He advised the government to focus on policies that would reduce unemployment and increase economic fortunes of Nigerians. Akinlade said, “I will appeal to government to suspend any increase in VAT as the economic hardship is biting hard. Policies that promote job creation and reduce unemployment should be rigorously pursued. People are hungry, so polices that favour massive food production and distribution at affordable rate must be pursued.” The reverend said when government made job creation a priority, “it will automatically reduce the vices we see in the society,” noting that emphasis should be shifted from white collar jobs to skilled labour. He added, “No matter what happens, skilled manpower is needed. Such a person is an entrepreneur and he or she can also be an employer of labour thereby helping to further reduce unemployment.”

Source: Punch 

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