During a program tagged, “Next Level, Work for People” at the International Conference Center in Abuja, the former Lagos State governor explained that an increment in VAT will further cut down the amount that citizens can spend.
He said, “I will appeal to Prof. Yemi Osinbajo and his team to put a question mark on any increase of VAT, please. It will reduce the purchasing power of people which can further slow down the economy.
“Let us widen the tax net. Those who are not paying now, even it is inclusive of Bola Tinubu, let the (tax) net get bigger and take in more taxes and that is what we must do in the country instead of additional taxes for now.”
Meanwhile, Kola Ologbondiyan, the National Publicity Secretary of PDP, had an interview with newsmen from Punch over the matter.
He stated that the current state of hardship in the country would be doubled if the Federal Government decides to increase VAT.
He equally emphasized that the move will add to the pains currently being experienced by Nigerians, hence, the Federal Inland Revenue Service should not give room for such.
The Secretary insisted, “FIRS will be increasing hardship on Nigerians by increasing VAT. Inasmuch as we agree that there is the need to rejig the economy and we have said it openly that this administration does not have the capacity or the wherewithal to improve on the economy.”
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