Just In: The Lagos State House Of Assembly Passes Bill To Collect VAT

The Lagos State House of Assembly has just pass the Value Added Tax VAT bill and sent to the executive for signing into law.

The Speaker of the State House of Assembly, Mudashiru Obasa on Thursday, after the passage of the bill, directed the Acting Clerk of the House, Mr. Olalekan Onafeko, to transmit a clean copy to the state governor, Babajide Sanwo-Olu for assent.

the Lagos State Value Added Tax bill was read for the first and second time in the state House of Assembly on Monday the 6th of september, as the document was  referred to the Committee on Finance to report back on Thursday.

Speaker of the House, Dr Mudashiru Obasa, before the bill was referred to the Committee on Finance, said it will lead to “Increase in revenue and in infrastructural development. This is in line with fiscal federalism we have been talking about.”

Lagos Governor Babajide Sanwo-Olu

The House also passed the bill prohibiting open cattle grazing in the state, in line with the resolution earlier reached by Southern Governors.

The two bills received unanimous votes by the lawmakers at the sitting.

“I thank you all for this historic exercise,” Obasa told his colleagues after the passage of the bill.

Lagos had said it would go ahead with the VAT bill, which passed the second reading in the state House of Assembly on Monday.

Governor Nyesom Wike of Rivers State recently signed into law the bill on Value Added Tax (VAT) collection in the state.

Wike signed the bill which was recently passed by the state House of Assembly at the Government House, Port Harcourt.

He said the judgment of the Federal High Court sitting in Port Harcourt had sufficiently addressed the illegality perpetrated by the Federal Inland Revenue Service (FIRS).

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