Akeredolu berates FIRS over VAT amendment

Chairman of the Southern Governors’ Forum Oluwarotimi Akeredolu, has said the amendments being sought by the Federal Inland Revenue Service, FIRS, on the Value Added Tax, VAT, is dead on arrival.

Akeredolu maintained that the law does not give power to the Federal Government to collect VAT, adding that VAT should be under the state government.

He stressed that the federal government can only get percentage from VAT, which they can decide to share at the Federal Accounts Allocation Committee, FAAC.

The Chairman added that the Southern Governors’ Forum aligned with the position by the Nigeria Governors’ Forum, NGF, to pursue the amendment to the Petroleum Industry Bill, PIB, to reflect equity, justice and fairness.