The Federal Inland Revenue Service (FIRS) has firmly dismissed circulating rumors about an impending increase in Nigeria's Value Added Tax (VAT) from 7.5% to 10%.
This clarification comes amidst growing economic concerns and speculation among the public. Arabinrin Aderonke, the Technical Assistant on Broadcast Media to the Executive Chairman of FIRS, addressed the issue directly, labeling the reports as "false and misleading." She emphasized that neither the Federal Ministry of Finance nor FIRS has discussed any such proposal, and no related document is pending before the National Assembly.
"The Nigerian Government is not proposing any such thing as the increment of VAT. Such reports should be ignored and discarded. It is false and misleading, as the FG is not planning to add to the economic burden of Nigerians," Aderonke stated.
The FIRS, operating under the Federal Ministry of Finance, is responsible for tax collection and ensuring compliance with relevant tax laws.
The agency's statement aims to dispel misinformation and reassure the public about the current tax policy status.
Aderonke further urged Nigerians to remain calm, highlighting the government's commitment to improving the economy. "There is no cause for alarm. Nigerians should rest assured that the FG is working hard to fix the economy and improve the livelihood of the citizens," she added.
Comments