The Lagos State Governor, Babajide Sanwo-Olu, has signed into law a bill empowering the state government to collect Value Added Tax (VAT) within the state.
This is coming barely a day after the Lagos State House of Assembly passed the VAT and open grazing prohibition bills despite the appeal of the Federal High Court Judgment by the Federal Inland Revenue Service (FIRS).
This also makes Lagos the second state to sign the VAT collection bill into law, after Rivers State, who initiated the first legal process.
This disclosure is contained in a statement issued by the Lagos State Commissioner of Information and Strategy, Gbenga Omotoso, on Friday.
Omotosho said, “The governor signed the ‘bill for a law to impose and charge VAT on certain goods and services’ at about 11:45am today, after returning from an official trip to Abuja. By this act, the bill has now become a law.’’