The chairman of the presidential committee on fiscal policy, Taiwo Oyedele, has revealed that the committee has proposed to the federal government the removal of taxes on food, public transportation, house rents, and other basic necessities critical to the well-being of Nigerians.
The head of the committee while featuring on a TV programme on Monday IN Abuja stated that the proposal also includes the exemption of value-added tax (VAT) on these essential necessities.
Accordingly, Oyedele said the proposal will soon be signed by President Tinubu before being sent to the National Assembly to become part of the tax laws in the country.
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“What we have taken into account is what are those basic necessities of life—food, accommodations, transportation, education and health. We have deliberately identified those items. And we have removed almost all the taxes applicable to them, including no VAT.”
