BREAKING NEWS
Breaking

728x90

header-ad

468x60

header-ad
header-ad

Reps reject bill seeking to include VAT on exclusive list

 

The House of Representatives, on Tuesday, rejected a bill seeking to include value-added tax (VAT) in the exclusive list.

 

About 200 lawmakers voted against the amendment, while 91 voted in favour of the amendment at the plenary.

 

In August 2021, The Federal Inland Revenue Service (FIRS) asked the national assembly to include VAT collection in the exclusive legislative list.

 

According to a document seen, the FIRS had proposed the insertion of VAT immediately after Stamp Duties under item 58 part II of the 2nd schedule of the 1999 Constitution.

 

But the proposal negates Part II of the concurrent legislative list of the Second Schedule of the 1999 constitution as amended, delegating the collection of such taxes to the state government or other authority of the state.

 

The move came in the wake of a legal tussle between Rivers state government and the agency over collecting VAT and personal income tax (PIT) in the state.

 

More to follow…

 


Click to signup for FREE news updates, latest information and hottest gists everyday


Advertise on NigerianEye.com to reach thousands of our daily users
« PREV
NEXT »

No comments

Kindly drop a comment below.
(Comments are moderated. Clean comments will be approved immediately)

Advert Enquires - Reach out to us at NigerianEye@gmail.com