Nigeria to Raise VAT to 7.5% From 5%, Ex-Minister Says

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Nigeria will increase the rate of value-added tax to 7.5% from current 5% in 2020 as Africa’s biggest oil producer seeks to shore up falling revenue, the country’s most recent Finance Minister Zainab Ahmed said.
The former minister, whose tenure ended with President Muhammadu Buhari’s first term on May 29, said at the Bloomberg Emerging & Frontier Forum in London on June 25 that her main preoccupation while in office was how to raise government revenue with only 55% of...
Source: Bloomberg

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