FG, Lagos and the VAT debate


IT is no longer news that a Federal High Court in Port Harcourt has ruled that states, and not the Federal Inland Revenue Service (FIRS), should be collecting Value Added Tax (VAT) and Personal Income Tax. Following the milestone ruling, the Lagos State government has rightly expressed its readiness to begin the collection of VAT in accordance with the judgment. Already, the Rivers State Governor, Nyesom Wike, had signed into law the bill that authorizes the state to collect VAT. On its part, the Lagos state government has alerted all the stakeholders involved in the payment and receipt of VAT of its determination to explicitly enforce the verdict. Unsurprisingly, the FIRS, an agent of…

Source: Nigerian Tribune