The Minister of Finance, Zainab Ahmed, has disclosed that the Federal Government has no plans to increase Value Added Tax (VAT) again. She stated this when she appeared before the Senate committee on finance on Thursday.
Adeola Olamilekan, Chairman of the panel, had asked the Minister of the current state of the 2020 finance bill. She was also asked to address speculations as to whether there are plans to increase VAT again.
"There will be no increase in VAT or any form of taxes because we see 2021 as a year of recovery, not only for government but businesses as well," the Minister responded.
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