Senator Shehu Sani has reacted to the proposed increment in Value Added Tax (VAT) by the federal government from 5% to 7.5%.
Sani who took to social media to voice his opinion suggesting in his tweet that the increment is like robbing Peter of his money through taxation to pay Paul his new minimum wage.
His tweet reads: Peter is for VAT,Paul is for new Minimum wage.
Peter is for VAT,Paul is for new Minimum wage.— Senator Shehu Sani (@ShehuSani) September 14, 2019
Recall that the Federal Executive Council (FEC) on Wednesday September 11, approved an increase in Value Added Tax (VAT) rate from 5 percent to 7.5 percent.
Minister of finance, budget and national planning, Zainab Ahmed, disclosed this in Abuja to state house correspondents at the end of the cabinet meeting.
She however stated that the increment is subject to an amendment of the VAT act of 1994 by the National Assembly.
Ahmed also said the states need the revenue to be able to pay the new N30, 000 minimum wage.