WHY FG CANNOT REDUCE VAT NOW BY BOSS MUSTAPHA

Boss Mustapha

By Omeiza Ajayi – Abuja

The Chairman of the Presidential Task Force (PTF) and Secretary to the Government of the Federation (SGF), Boss Mustapha has said in spite of the coronavirus pandemic that has ravaged the nation’s economy, the Federal Government cannot reduce the Value Added Tax (VAT) from 7.5 per cent, saying the country’s purse was already bleeding.

According to Mustapha, the federal government takes only 15 per cent of the VAT while the balance is shared for states and local governments.

Boss Mustapha also hailed the organized labour for their commitment to the development of the country.

Mustapha said; “The atmosphere for this year’s celebration, more than anything else, forcefully reminds us of the disruption to our hitherto normal way of life and challenges us not only as workers but also as citizens; and to leave no stone unturned in our efforts to return to a semblance of normalcy.

“The reality is that our lives, the way we knew it, can never be the same again, post COVID-19.

“The reality further challenges the labour movement to carry out research and develop new strategies for workplace operations, and identify innovative ways of ensuring that productivity of the labour force remains a key driver to the nation’s economic growth.

“Particularly, the challenges we are currently facing in the health sector on account of COVID-19, should be given adequate attention.

“This year’s Labour Theme: ‘Maintaining Safety and Security in the workplace’ further emphasizes the importance of ensuring that all Nigerian workers are adequately protected to increase their productivity.

“Similarly, it places on the workers the obligation to take responsibility by adhering to the implementation guidelines that have been developed and circulated especially in this COVID-19 era”.

Vanguard News Nigeria.

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