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Breaking : Federal Government increases VAT to 7.2%

Breaking : Federal Government increases VAT to 7.2%

The federal executive council (FEC) meeting held earlier today. At the end of the meeting, FEC approved an increase in value added tax (VAT) rate from 5 percent to 7.2% percent effective January 2020. Zainab Ahmed, minister of finance, budget and national planning, disclosed this to state house correspondents at the end of the cabinet meeting on Wednesday. However, this is subject to an amendment

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