Agency Report
The Nigerian Governors Forum said on Monday that it was waiting for the verdict of the Supreme Court before taking any decision on the vexed issue of Valued Added Tax.
Governor Kayode Fayemi of Ekiti State, also the Chairman of the forum, stated this while featuring on a programme on Arise Television, monitored in Ado-Ekiti, Ekiti.
Fayemi said the forum believed that the controversy over VAT required both political and legal measures to be settled.
“But, our take on this is that the Supreme Court should accelerate its decision so that we have clarity over who should be in charge of Value Added Tax (VAT), whether it is the Federal Inland Revenue Service, or States.
“States that have gone to court believe clearly that this responsibility evolves, according to their own understanding, on what the Constitution says.
“The important thing is that our tax system is problematic, confusing, and contradictory. We need to do a lot more to clarify things so that it can give room for more efficient and effective collection of taxes,” Fayemi said.
The governor also emphasised the need to channel borrowed funds to regenerative ventures that would strengthen the nation’s economy and generate more jobs for the citizens.
