Tax reform bills: ASUU faults FG over inclusion of VAT increment
Emmanuel Osodeke-led Academic Staff Union of Universities (ASUU) has faulted the inclusion of an increment in Value Added Tax in the controversial tax bill, which has already passed a second reading at the National Assembly while lampooning the federal government and members of the National Assembly over their failure to consult critical stakeholders before taking any step
The bill has generated mixed reactions since it was transmitted to the National Assembly.
Prof Emmanuel Osodeke, the ASUU president when appearing on Channels Television’s Sunrise Daily, on Thursday, faulted the bill, saying there are many things included in the bill that were not supposed to be there, adding that the increment of VAT would compound the woes of many Nigerians, who are still battling the negative effects of fuel subsidy removal and floatation of Naira if it is increased in 2025 and subsequent years as proposed.
“I think what we’re supposed to look at in this bill is how it is going to affect the ordinary Nigerians. I’ve heard people from various regions, we support this, we disagree, and what have you. Meanwhile, they have not bothered to look at the bill. I will just mention one, VAT.
“VAT is a tax on consumers, which is Nigerians. So, if you increase the VAT today, it’s not affecting producers, it’s going to affect those who are going to consume because what the producer will do is drop it on the cost of sale,” he said.
Source: Daily Trust
