Nigeria's tax committee recommends VAT rate increase and a revised revenue-sharing formula.

Nigeria's tax committee recommends an increase in the VAT rate and suggests reviewing the current revenue-sharing formula between the federal, state, and local governments. The committee proposes reducing the federal government's share from 15% to 10% and increasing the states' and local governments' share to 90%. This move aims to boost the country's tax revenue.

May 08, 2024
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