Sanwo-Olu signs VAT bill into law

Babajide Sanwo-Olu

Lagos State Governor Babajide Sanwo-Olu on Friday signed the state value added tax bill into law.

“The Governor signed the bill for a law to impose and charge VAT on certain goods and services at about 11. 45am today, after returning from an official trip to Abuja. By this act, the Bill has now become a Law,” commissioner for information and strategy Gbenga Omotoso said in a statement.

The state House of Assembly had passed the bill on Thursday.

Lagos and Rivers have been at the forefront of calls for states to collect VAT instead of the Federal Inland Revenue Service on behalf of the Federal Government.