The House of Representatives on Tuesday backed the implementation of the 7.5 per cent Value Added Tax, VAT implementation, as it rejects a motion seeking to suspend the implementation.
It explained that since the 2.5 % increase in VAT was already an Act of the National Assembly, which has been signed into law, it cannot be suspended by a motion.
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James Faleke, the Chairman of the House Committee on Finance had objected to the motion being moved and drew the attention of the House to the fact that since the issue contained in the motion affects an existing law, it will be out of place to suspend it with just a motion.
Details coming shortly
