The National Leader of the ruling All Progressives Congress (APC), Bola Tinubu, has warned about the purported plan by Federal Government to Increase Value Added Tax saying the action would reduce the purchasing power of the people.
“I must say this to Prof Osinbajo and his team, don’t increase VAT but increase tax net to accommodate those who are not yet paying.
“Don’t reduce the people’s purchasing power,” Tinubu said.
Federal Government had hinted of plan to increase VAT by 50 percent to fund the recently approved new minimum wage.