VAT: After Wike Won FIRS in Court, Lagos State Begin Process To Sign Law

After Rivers state Government won the case against The Federal Inland Revenue service, FIRS on Value Added Tax collection, Lagos State has immediately followed moves to collect VAT.

Lagos and Rivers VAT collection

At the plenary on Thursday, the Lagos State House of Assembly passed the Value Added Tax,VAT.

In a unanimous decision, the lawmakers also passed a bill prohibiting open grazing in the State, days after, Miyetti Hore raised concerns.

The Lawmakers says the anti open grazing bill will help forestall herders/farmers clashes and redefine social and economic activities in the state.

The two bills were unanimously passed on Thursday, after the third reading

Mudashiru Obasa, the LSHA speaker,following the passage of the bills directed the acting Clerk, Olalekan Onafeko, to transmit a clean copy of the passed bill to Governor Babajide Sanwo-Olu for assent.

The Public hearing for the two bills was held Wednesday at the Lagos State House of Assembly where different suggestions were made by stakeholders.
VAT is a consumption tax paid when goods are purchased and services are rendered. It is charged at a rate of 7.5 per cent. According to Governor Nyesom Wike, Rivers generates an average of N15bn in VAT every month but gets a paltry 25% from the Federal Government as monthly allocation.