FG cautioned over 10% tax increment 

FG cautioned over 10% tax increment 

A FORMER president of Chartered Institute of Taxation of Nigeria, CITN, and Managing Partner, Saffron Professional Services, Mrs Adebimpe Balogun, yesterday, faulted the move by the Federal Government to increase Value Added Tax, VAT, to more than five per cent, saying the present economic situation in the country does not support such irrational development.

Balogun who spoke at the eighth Wole Soyinka Centre Media Lecture Series, themed: “Tax Education, National Development and the Seminal Role of the Media”, said that rather than increase taxes payable by Nigerians as being mulled by the federal government, government at all levels should broaden their tax base by bringing more people in the formal and informal sectors into the tax net. Read more

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