VAT-Tussle: VAT Bill reaches second reading in Ogun

A proposed law that will impose and charge Value Added Tax (VAT) on certain goods and services, provide for the administration of the tax and for related purposes has reached second reading stage at the Ogun State House of Assembly.

This was disclosed by Deji Adeyemo, who is the clerk of the Assembly, read the bill for the first time during plenary session in Abeokuta, while the majority leader, Yusuf Sherif, moved the motion for the second reading which was seconded by Ganiyu Oyedeji.

While opening debate on the bill, Olakunle Sobukanla, the chairman of House Committee on Finance and Appropriation, noted that the bill was an avenue for the state to generate more revenue for its development.

Mr Sobukanla added that the more internally generated revenue by the state, the more infrastructure development in all sectors of the state.

In his submission, Mr Oyedeji explained that the collection of VAT would allow the state to generate more revenue and meet needs of the people.