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Resist that tax

Published by Vanguard on Sun, 15 Sep 2019


Muhammed Buhari, President of this sad republic has promised not to inflict any more hardship on Nigerians. He said this in the backdrop of growing criticism of his administration's proposals to hike the Value Added Tax (VAT) from its current 5% to 7.2% next year. This is necessary, the administration has said, to shore up declining revenue from oil receipts, and reduce government's traditional reliance on crude sales.'Besides,' the Minister of Finance who announced the plan said, 'States need the additional revenue to be able to meet the obligations of the new minimum wage.' Two things needs be said at this point: first, normally taxing is a legitimate means for governments to raise revenue for public services and for infrastructure funding: roads, schools, bridges, municipal services like fine public transportations, well-managed streets, park services, provision of adequate public housing on need bases, and so on and so forth.Continue reading Resist that tax at Vanguard News.
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