Again, Nigerians lament new 7.5% VAT charges

Nigerians have again lamented the increase in Value Added Tax (VAT) from 2.5 per cent to 7.5 per cent.

Social media users on Wednesday began drawing attention to the 7.5 per cent VAT also charged on phone calls.

The new VAT system is included in the Finance Bill signed into law on January 13.

Basic food items like bread, fish and others are exempted from the new system including services rendered by microfinance banks and tuition fees in institutions of learning.

The Federal Government says the bulk of additional VAT revenues accruing from the increase would go towards enabling states and local governments meet their obligations to citizens, including the new minimum wage as already noted by state governors.

See what Nigerians are saying on Twitter: