VAT Allocation Formula Fails Fairness Test, Says Adedeji
Dr. Zacch Adedeji, Chairman of the Federal Inland Revenue Service (FIRS), has criticised the existing Value Added Tax (VAT) allocation formula, describing it as unjust to the majority of Nigerian states. According to Adedeji, Lagos alone received 42% of VAT proceeds in October, with Rivers, Oyo, and the Federal Capital Territory (FCT) taking 16%, 5.2%, […]