PDP Rejects Increase In VAT

Peoples Democratic party rejects the proposed increase of value added tax by the President Buhari led administration.

 

PDP said this plan will further worsen the situation of the people who are already improvish.

The Peoples Democratic Party (PDP) has rejected Federal Government’s decision to increase Value Added Tax (VAT) from 5 per cent to 7.2 per cent.

This came up as the Senate summoned Finance Minister, Zainab Ahmed, to expressly explain the logical reasons behind the proposal.

PDP made this statement through its National Publicity Secretary, Kola Ologbondiyan yesterday, it described the decision as “anti-people, suppressive and a confirmation that the Muhammdu Buhari Presidency was exploitative, inconsiderate and insensitive to the sufferings which it has plunged Nigerians in the last four years.”

PDP insisted that the decision to increase VAT on already impoverished citizens was in bad faith and could not be justified under any guise.

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“Indeed, only an administration that does not have the mandate of the people can seek to adopt such oppressive stance against its citizens.

“President Buhari ought to be aware that increase in VAT will worsen the nation’s decrepit economy and put more pressure on families and businesses as it will result in increase in costs of goods and services that have direct bearing on the welfare of the people,” the statement reads.

The party charged the President Buhari-led government “not to further punish Nigerians by imposing harsh tax regime to make up for its crass incompetence and lack of capacity to effectively harness and manage our resources to create wealth for the people.

”It also charged President Buhari to account for and recover the over N14 trillion oil money allegedly stolen under his administration in the last four years.