The Economic Community of West Africa States has called for an increase in the Value Added Tax on hotels, perfume, wine, alcoholic beverages, and other luxury items.
According to ECOWAS, Nigeria is the least VAT paying country in West Africa.
The ECOWAS Director of Domestic Tax, Tiemtore Salifou, gave the hint after a two-day regional seminar on problems of tax transition in West Africa which ended in Abuja on Friday.
He was however cautious saying that the VAT increase should be on products that would not impact negatively poorer Nigerians especially given the present rate of inflation.
Nigeria pays less VAT than the Niger Republic, Salifou says and admits there was no wisdom in that.
He said, “There are some products we can increase VAT on without impacting on the lives of the normal Nigerians.©Standard Gazette, 2021. Unauthorized use and/or duplication of this material without express and written permission from this site’s publisher is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Standard Gazette with appropriate and specific direction to the original content.