Buhari based 2020 budget on proposed VAT rate

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Nigeria’s President Muhammadu Buhari has based the 2020 budget funding of education, health and infrastructure on the proposed increase of Value Added Tax from 5% to 7.5%. “The 2020 appropriation being presented today is predicated in the following parameters: Benchmark Oil Price $57 Production: 2.18m bpd FX: N305/$ Proposed increase of VAT from 5% to […]

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