Do Nigerian pay the highest VAT
September 1, 2020 6:41 pm
it is Incorrect to say Nigeria pays the Highest VAT go and Check the Facts in West Africa Nigeria's VAT is amongst the Lowest in ECOWAS & Africa in General.
Most Basic Consumption Items are Exempt from VAT. It is Luxury Items, Alcohol & Certain Services that make up a Major Proportion of VAT.
How many Beer Parlours are Actually Registered for VAT let's be Truthful to Ourselves. The Neighbor Selling Beer Down the Road in her Parlour is Unlikely to be Registered for VAT or Declaring Her Secondary Income from Selling Alcohol from her Fridge and Freezers to her State Internal Rev Service. So she is also not paying Income Tax on the Profits she makes from selling Drinks & any other Provision Items
This is the Reality the Real Corruption in Nigeria. Now Multiply that to how many Streets Across the Length & Breath of Nigeria in all the States. that Equate to N100's of Billions not being Remitted to the State. So Restructuring is Clearly not the Reason why State IGR is so Low yet we Expect States to Perform Miracles