#Latest news with #NigerianSenateBloomberg07-05-2025BusinessBloombergNigeria Senators Approve Tinubu's Tax Bills But Without Vat HikeNigerian senators on Wednesday backed four tax bills that are part of President Bola Tinubu's efforts to lift government revenue, but joined lawmakers in the lower National Assembly in rejecting his plan to increase the value-added tax rate. Tinubu had sought to double rate to 15% over six years and proposed partially offsetting the increase by lowering corporate taxes to 25% by next year from 30%.
Bloomberg07-05-2025BusinessBloombergNigeria Senators Approve Tinubu's Tax Bills But Without Vat HikeNigerian senators on Wednesday backed four tax bills that are part of President Bola Tinubu's efforts to lift government revenue, but joined lawmakers in the lower National Assembly in rejecting his plan to increase the value-added tax rate. Tinubu had sought to double rate to 15% over six years and proposed partially offsetting the increase by lowering corporate taxes to 25% by next year from 30%.
07-05-2025
