The Nigerian government has been counseled to suspend its proposal to increase the Value Added Tax (VAT) because of its adverse impact on the ordinary Nigerians.
Bola Tinubu, former Lagos governor and chieftain of the ruling All Progressives Congress (APC) said the planned increase in VAT will put a further burden on the Nigerians, especially the masses.
Speaking at a function to mark his birthday, Tinubu also urged policymakers and officials in charge of revenue to look inward and initiate people- friendly policies based on the looming global economic recession.
He advised the government to revisit privatisation of the power sector as a major step to fast track industrial development and job creation.
He called on the power distributions companies to do away with estimated billing in the country.
“I want to appeal to Prof. Yemi Osinbajo, the Vice President and his team to put a huge question mark on any increase on VAT.
“If you reduce the purchasing power of the people, we can further slowdown the economy.
“Let us widen the tax net. Those who are not paying now, even if they are relatives of Bola Tinubu, let the net be bigger and we take in more taxes. That is what we must do in the country instead of another layer of taxes for now.”
He advised the government to revisit privatisation of the power sector as a major step to fast track industrial development and job creation.
He called on the power distributions companies to do away with estimated billing in the country.
“I want to appeal to Prof. Yemi Osinbajo, the Vice President and his team to put a huge question mark on any increase on VAT.
“If you reduce the purchasing power of the people, we can further slowdown the economy.
“Let us widen the tax net. Those who are not paying now, even if they are relatives of Bola Tinubu, let the net be bigger and we take in more taxes. That is what we must do in the country instead of another layer of taxes for now.”
0 comments:
Post a Comment