Nigeria’s Value Added Tax (VAT) of 7.5% will remain unchanged as the House of Representatives has adopted the Tax Reform Bills as a working document.
While presenting the report to the lawmakers on Thursday, the chairman of the finance committee, James Faleke, confirmed that the VAT rate would remain at 7.5% as it has been, adding that contentious areas have been addressed.
Faleke also stated that the committee recommended that VAT be based on consumption.