Experts have warned the government against increasing value-added tax (VAT) in a desperate move to increase public revenue.
The Fiscal Policy and Tax Reform Committee led by Taiwo Oyedele, in its 2024 National Tax Policy (NTP) proposal submitted to the government, proposed among other things, an increase in VAT to generate more revenue.He said that rather than increasing the rate, the government could focus on improving VAT collection efficiency to capture a larger share of the existing tax base.
Source:
Business News | Guardian Nigeria