The Federal Government raised concern over the performance of the Value Added Tax in Nigeria as the lowest in the West African region.
The government stressed the need for a change in policies, adding that the country’s VAT rate was less than one per cent of the Gross Domestic Product.
The Director of Tax Policy in the Federal Ministry of Finance, Budget and National Planning, Basheer Abdulkadir, raised the concern at the opening event of a three-day workshop on the harmonisation of Nigeria’s VAT Act with ECOWAS directives.