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Tax › ANN Flays Planned Increase In VAT

 January 29th, 2019  | Tax

The Alliance for New Nigeria (ANN) has condemned the plan by the Federal Government to increase Value Added Tax (VAT) from the current 5 to 7.5 percent, adding that the proposed increase smacked insensitivity on the part of government to the suffering of Nigerians.   Lanre Oyegbola, Director General, ANN 2019 Presidential Campaign, in a press statement, said, “An additional 2.5 percent of VAT would automatically increase the shelf price of most items from the moment it is implemented and this would create a ripple effect across both the formal and informal sectors of the economy.”  The campaign director general noted that the All Progressives Alliance (APC) government is one that gives with one hand and takes it away with the other given the timing of the increase in the VAT.

He said one could not explain the fact that while the President Muhammad Buhari-led government was yet to agree to the minimum wage deal with labour, the same government was at the same time increasing the VAT, adding that it was a show of deception and insensitivity to the plight of Nigerians.

Oyegbola called on Nigerians to reject every form of deceit the government might bring to the table.

He also called on the people of Nigeria to vote against the APC and the Peoples Democratic Party (PDP) in the February 16 2019 presidential election.

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