December 9, 2019
World News

Nigeria’s Senate Approves VAT Increase from 5% to 7.5%

bnnbloomberg: The Nigerian Senate approved an increase in the value-added tax rate to 7.5% from 5% in a move that aims to help the government pay for a swelling wage bill.

Nigeria has one of the lowest tax rates in the world and the government has struggled for years to raise revenues in Africa’s top oil producer. The bill still requires approval from the House of Representatives and President Muhammadu Buhari to be enacted.

Source: Published by bnnbloomberg

Drop Your Comments

Related posts

WAR: Russia deploys nuclear missiles near Ukraine border

James

Love Not War: Two Best Friends Try to Fix Indo-Pakistani Crisis Online

James

Miley Cyrus Has Been Crowned The Queen of Nipples On Instagram

James

Leave a Comment