The Speaker of the Parliament of Lagos, Mudashiru Obasa, has revealed how the VAT law would affect the state
Obasa noted that states have always felt financially strangled and unfairly treated by the federal government
According to him, the state of Lagos Government generates a N500 billion surplus in Value Added Tax (VAT)
Alausa, Lagos – Mudashiru Obasa, spokesman for Das House of Assembly of Lagos State on Wednesday September 9th said the proposed Value Added Tax (VAT) law would help the state achieve more of its development goals.
This was a stakeholder at the hearing, praising the Lagos State Congregation and its leadership for their determination to ensure that the law is passed litter goes into effect.
In his remark, Obasa noted that states have always felt financially strangled and unfairly treated by the federal government in their management and appropriation of VAT revenues.
In a speech by deputy spokesman Wasiu Eshilokun-Sanni, who represented him, Obasa said that Lagos state generates a sales tax surplus of N. 500 billion.
“If we stick to the generational trend in line with the forecast N 2.4 trillion, according to FIRS, the state of Lagos will contribute about 55 percent of total sales tax across the country .
“But what do we get in return? A pathetic sum. This injustice and injustice are part of the premises on which some of the existing agitations are based. ”
The speaker said that this agitation was supported by a ruling by a federal court in the case of the Rivers State Attorney General against the Federal Inland Revenue Service (2020), which upheld the rights of the State of Rivers (in the broader sense of other states).
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“Although the FIRS has presumably challenged the judgment at the court of appeal, it is expected that the court of appeal will follow the reasonable logic of the decision of the Federal Court of Justice. What’s more, this action brings the update to the fore, the real federalism for which we have been agitating. “
The spokesman said the proposed law would give the state more resources to achieve its development goals.
Attorney General and Justice Commissioner Moyosere Onigbanjo (SAN) said that every state could benefit from the court’s ruling.
House Finance Committee chairman Rotimi Olowo said at the event that although Lagos is wealthy it could be better and VAT would help with the resources it needs.
Lagos Assembly passes VAT, anti-open pasture laws
It was reported that the House of Representatives passed the law banning open pasture in the country. The two bills were unanimously approved Vote the law Donors passed.
House Speaker Mudashiru Obasa directed acting clerk Olaleka n Onafeko to forward a clean copy to Governor Babajide Sanwo-Olu for approval.