as Commended The Nigerian Governors’ Forum (Ngf) For Championing A More Equitable Value Added Tax (Vat) Sharing Formula.
The Revised Formula, Which Allocates 50% Based On Equality, 30% On Derivation, And 20% On Population, Is A Significant Departure From The Earlier Lopsided Formula.
Speaking At A Press Briefing In Bauchi State, The Cng Expressed Its Support For The Revised Vat Sharing Formula, Citing Its Potential To Promote Economic Fairness And Equality Among Nigerian States.
However, The Group Also Vowed To Continue Challenging Other Controversial Provisions In The Tax Reform Bills.
The Cng Has Been Actively Engaging With Stakeholders Across Northern Nigeria, Organizing Townhall Meetings And Protests To Raise Awareness About The Tax Reform Bills And Their Potential Impact On The Region.
The Group Has Also Been Working To Galvanize Action Among Nigerians To Address The Adverse Effects Of The Reforms.
Key Highlights Of The Revised Vat Sharing Formula:
– 50% Based On Equality: Ensures That Each State Receives An Equal Share Of Vat Revenue.
– 30% On Derivation: Allocates Vat Revenue Based On The State’s Contribution To The National Economy.
– 20% On Population: Ensures That States With Larger Populations Receive A Proportionate Share Of Vat Revenue.
The Revised Vat Sharing Formula Is A Significant Development In Nigeria’s Tax Reform Efforts, And The Cng’s Support Is A Positive Step Towards Promoting Economic Fairness And Equality Among Nigerian States.
Jamauddeen Inuwa Babugirma Bauchi…
