VAT Hike Yields N25tn Revenue In Six Years
…Revenue Jumps 722% After Rate Rose From 5% To 7.5%…Inflation, Digital Economy, Tax Reforms Boost CollectionsThe increase in Nigeria’s Value Added Tax from five per cent to 7.5 per cent in 2020 has led to a quantum leap in earnings from the consumption tax from N3.05tn to N25.07tn in equal six comparable years.Other factors that buoyed…
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