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Subsidy Removal: Presidential Tax Committee Proposes Removal Of VAT On Diesel
Eko Hot Blog reports that the Chairman of the Presidential Committee on Tax Policy and Fiscal Reforms, Taiwo Oyedele, has pushed for the suspension of Value Added Tax (VAT) on Automotive Gas Oil also known as diesel.
According to him, suspension of VAT on diesel will be a way to cushion the harsh economic effects of the removal of fuel subsidy by the President Bola Tinubu administration.
Speaking on Channels Television’s Sunrise Daily programme on Wednesday, Naija News gathered that Oyedele noted that even though he is not promising it will be done, the issue will be tabled before the committee because it seeks to achieve some landmark things in the first 30 days.
It would be recalled that the President on Tuesday inaugurated the committee with the mandate of working on fiscal governance, tax reforms, and growth facilitation.
The committee’s chairman said, “What the President wants us to do is that within the first 30 days, there are those low-hanging fruits that people have generally agreed that this is a problem, but nobody has done anything about it.
“Personally, for example, this is not promising that it would be done, but I think that we should suspend VAT on diesel because we removed fuel subsidy on petrol and prices are going up.
“We are going to table it before the committee. These are the things we want to do in the first 30 days.”
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