Ogun enters VAT race as bill to legalise tax passes second reading in parliament

A bill that will empower Ogun State Government to collect value added tax (VAT) has passed second reading at the state’s house of assembly.

The Clerk of the Assembly Deji Adeyemo read and introduced the bill to lawmakers during Tuesday’s plenary.

It was immediately moved by the House Majority Leader Yusuf Sherif for a debate and deliberation.

The lawmakers, led by chairman of the House Committee on Finance and Appropriation, noted that the bill was an avenue for the state to generate more revenue for its development.

They argued that the more internally generated revenue by the state, the more infrastructure development in all sectors of the state.

They also stated that the bill, when passed into law, would boost the state’s socio-economic development.






     

     

    Speaker of the House Olakunle Oluomo, who commended his colleagues’ contribution to the bill, noted that the state needed the bill for more economic development.

    He committed the bill to the House Committee on Finance and Appropriation for further legislative actions.

    Ogun will join Rivers and Lagos that are fighting to collect VAT as the Federal Inland Revenue Service (FIRS) battles to retain its power to collect the consumption tax.

    The Court of Appeal has asked Lagos and Rivers to stay action on VAT collection until the case brought before it by the FIRS is heard.

    You can reach out to me on Twitter via: vincent_ufuoma

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