Thursday, February 2, 2017

VAT On Champagne, Other Luxury Items To Increase

The Federal Executive Council on Wednesday approved the revised National Tax Policy.

The policy will see the Value Added Tax on luxury items, like champagne, increasing from the current five per cent, among other changes.

The Minister of Finance, Mrs. Kemi Adeosun, disclosed this to State House correspondents at the end of a meeting of the council presided over by Acting President Yemi Osinbajo.

She was joined at the press conference by the Minister of Information and Culture, Alhaji Lai Mohammed; and the Minister of State, Aviation, Hadi Sirika.

10 comments:

  1. If only the money will be spent for a better Nigeria

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  2. They shouldn't tax us to death. The government should cut down ⬇ its expenses and free Nigerians. Na only us waka come?

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  3. Increasing VAT with no good road, no good drinking water,no power supply, no infrastructure development. This country is just a mess
    Hmm

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  4. Why only relate with the higher taxes in UK
    standard of living there is uncomparable with naija own

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  5. This federal government just want people to be miserable

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  6. Luxury items are not for the poor hence it wouldn't affect them directly

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  7. Why not also emulate the all round better living conditions there by providing same to Nigerians before increasing taxes?

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