The Federal Executive Council has approved the revised National Tax Policy. The policy will see the Value Added Tax on luxury items, like champagne, increasing from the current five per cent, among other changes.
The Minister of Finance, Kemi Adeosun, disclosed this to newsmen at the end of a meeting of the council presided over by Acting President Yemi Osinbajo.
She was joined at the press conference by the Minister of Information and Culture, Lai Mohammed; and the Minister of State, Aviation, Hadi Sirika.
Adeosun said while the implementation of the revised policy would take immediate effect, some aspects that required changes
The minister said the objectives of the revised policy included to guide the operation and review of the tax system; provide the basis for future tax legislation and administration; provide clarity on the roles and responsibilities of stakeholders; and standard benchmark on which they would be held accountable.
The Minister of Finance, Kemi Adeosun, disclosed this to newsmen at the end of a meeting of the council presided over by Acting President Yemi Osinbajo.
She was joined at the press conference by the Minister of Information and Culture, Lai Mohammed; and the Minister of State, Aviation, Hadi Sirika.
Adeosun said while the implementation of the revised policy would take immediate effect, some aspects that required changes
The minister said the objectives of the revised policy included to guide the operation and review of the tax system; provide the basis for future tax legislation and administration; provide clarity on the roles and responsibilities of stakeholders; and standard benchmark on which they would be held accountable.
No comments:
Post a Comment