BREAKING: Lagos State Signs VAT Bill Into Law

The Lagos state Government under the leadership of Governor Babajide Sanwolu, has signed the Value Added Tax (VAT) bill into law in the state.

The controversial VAT bill was signed into law following the a High Court ruling which favoured Rivers state and others to start the collection and management of VAT in their various states as against the FIRS collection.

Speaking on what prompted the VAT decision, Governor Wike noted that Rivers state can no longer be sharing its VAT with states that take pleasure in destroying alcohol, the highest VAT revenue stream.

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Following suit in passing the controversial Value Added Tax (VAT) to law, is the Lagos state Governor, Babajide Sanwolu.

This passing of the Lagos state VAT law was made public by the HC Information & Strategy, Gbenga Omotoso, who noted that the Governor signed the “bill for a law to impose and charge VAT on certain goods and services” at about 11:45am on Friday, following his return from an official trip to Abuja.

The VAT bill has now officially become a law in Rivers and Lagos state.

https://edition.cnn.com/videos/business/2021/08/13/social-media-fact-checks-orig.cnn-business

About Amadu Victor Oluwadamilare 422 Articles
Amadu Victor Oluwadamilare is the CEO/Founder of Ayoki News Media, an international informative media platform, aimed at dispensing good and reliable source of information.

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