We do not have plan to increase VAT again – Minister of Finance tells Nigerians

Finance Minister Zainab Ahmed has denounced reports that they intend to increase the value-added tax ( VAT) and other taxes in 2021.

Zainab, who defended the budget of her ministry before the Abuja Senate Finance Committee, dismissed the allegations of an imminent increase in VAT and other taxes in the proposed Finance Bill to be submitted soon to the National Assembly.

The minister said;

“There will be no increase in VAT or any form of taxes because we see 2021 as a year of recovery – not only for the government but businesses as well.”