Nigerian Government May Increase Value Added Tax (VAT) To Fund New Minimum Wage
Page 1 of 1 • Share
- ParadiseAdministrator
- Gender : Male
Time Online : 52d 6h 12m 24s
State : Ebonyi
My Club :
Posts : 1101 Posts Liked : 381
Awards :
"There may be the need to make some changes, especially the VAT, in order to fund the minimum wage once it is announced."
Senator Udoma Udo Udoma, Nigeria’s Minister of Budget and National Planning, has given indication that the government may need to increase Value Added Tax (VAT) to fund the new national minimum wage.
He stated this on Tuesday when he appeared before the Senate Committee on Finance at the hearing to deliberate on the new national minimum wage of N30,000 approved by the Senate.
The Senate had approved the new figure at its plenary on Tuesday.
Speaking before a panel led by Senator John Owan Enoh, Udoma noted that the Technical Advisory Committee on the minimum wage would submit its report to President Muhammadu Buhari during the week.
“The current minimum wage of N18,000 is really too low. It is difficult for workers to manage on that amount. The President supported a review but it is important that as we are reversing it, we should be able to fund it. It is in the light of this that we would be coming to you (Senate), because there may be the need to make some changes, especially the VAT, in order to fund the minimum wage once it is announced,” he said.
Similar topics
» Senate Approves N30,000 As Minimum Wage
» Buhari Signs N30,000 Minimum Wage, Reveals Implementation Date
» Minimum Wage Update: Youth Corpers To Be Paid N30,000 As Allowance
» ESSAY: Is the Nigerian government doing enough to curb corruption?
» Do think the Nigerian government influence court decisions?
» Buhari Signs N30,000 Minimum Wage, Reveals Implementation Date
» Minimum Wage Update: Youth Corpers To Be Paid N30,000 As Allowance
» ESSAY: Is the Nigerian government doing enough to curb corruption?
» Do think the Nigerian government influence court decisions?
Create an account or log in to leave a reply
You need to be a member in order to leave a reply.
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum