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FG to increase VAT rate to 7.2%

FEC has approved an increase in VAT rate from 5% to 7.2%. The Minister of Finance, Zainab Ahmed made this disclosure.

Minister of Finance Zainab Ahmed, VAT
Zainab Ahmed

Zainab Ahmed, the Minister of Finance and Budget and National Planning, has disclosed that the Federal Executive Council (FEC) has approved an increase in value-added tax (VAT) rate from 5% to 7.2%.

The minister made this disclosure with some state house correspondents at the end of the cabinet meeting in Abuja.

More details soon…




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