Lastest News Nigeria, Politics, Business, Sport, Interview
Sequel to the passage of the 2020 Finance Bill by the National Assembly, President Muhammadu Buhari, on Monday signed the bill into law but this act has infuriated a lot of Nigerians.
A number of Nigerian citizens took to their Twitter accounts to lament about the increase of the Value Added Tax (VAT )rate from the previous rate of five percent to the now signed and approved 7.5 percent.
According to the press release by the Special Adviser to the President, Femi Adeshina, the increased rate is to foster more revenue to finance key governmental projects especially in the areas of health, education, and critical infrastructure.
The 2020 Finance Bill has so far garnered over 3,900 tweets. Here are some of the comments on Twitter.
chinanu Ndumele CN@CN4real3 THINGS D@ MUST HAPPEN WITH D NEW 7.5 VAT.
1, Politicians will’ve more money to loot.
2, Companies will increase d prices of commodities & services 2 recoup d new VAT.
3,There’ll be more suffering 4 d governed.
FACT: Taxes are meant 4 d rich but it’s d poor, who pay it.
167 people are talking about this
