Breaking: FG reacts to alleged plan to increase VAT to 10% as Atiku raises alarm

Abuja, FCT - The Federal Inland Revenue Service (FIRS) on Monday, September 9, debunked reports of a planned increase in Value Added Tax (VAT) from 7.5% to 10%, saying such claims were false and misleading.

Arabinrin Aderonke, technical assistant on broadcast media to the FIRS chairman, said the federal government had no intention of adding to the economic burden of Nigerians.

“The Nigerian Government is not proposing any such thing as the increment of VAT. Such reports should be ignored and discarded. It is false and misleading, as FG is not planning to add to the economic burden of Nigerians," Aderonke said in a statement made available to Legit.ng.

Alleged 10% VAT: FIRS and finance ministry deny reports

Aderonke emphasised that the FIRS and the Federal Ministry of Finance had not discussed any plans to increase VAT.

“It has not been discussed at all by both the Federal Ministry of Finance and FIRS. The Federal Ministry of Finance makes financial policy while the FIRS implement it. I can authoritatively tell you that the FIRS is not aware of the increment of VAT, and there is no proposition in front of the national assembly," Aderonke noted.

VAT remains 7.5%: No cause for alarm

Aderonke urged Nigerians to disregard the reports, saying the federal government was working to fix the economy and improve citizens' livelihoods.

“There is no cause for alarm, Nigerians should be rest assured that the FG is working hard to fix the economy and improve the livelihood of the citizens. Please ignore such reports it is not true," she reiterated.

Source: Legit.ng