Obi hails Tinubu’s advice on VAT

Vice Presidential candidate of the Peoples Democratic Party (PDP) Peter Obi has hailed National leader of the All Progressives Congress (APC), Asiwaju Bola Tinubu, on his position on the proposed increment in Value Added Tax (VAT).

Asiwaju Tinubu had advised the federal government against increasing VAT rate as being canvassed by the minister of National planning, Udoma Udo Udoma and the executive chairman of the federal Inland Revenue service, Mr. Babatunde Fowler.

In a statement by his media office, Obi described Tinubu’s advice as gratifying and making economic sense given the situation in the country.

According to him, Tinubu’s position was clearly at variance with that of his party,

Obi, who said tax must be relaxed to act as incentive to local and foreign investors, insisted that the right way to shape up the economy in the face of mass unemployment is to have attractive economic policies to encourage entrepreneurs and investors.

According to him, the call for an increase in vat or other taxes in the present economic situation amounted to insensitivity on the part of the government.

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