The Economic Community of West Africa States (ECOWAS) has called on the Nigerian Government to increase Value Added Tax (VAT) impose on expensive perfume, wine and other luzury items.
The increase in VAT on these goods, according to ECOWAS, will not push up inflation rate and poorer Nigerians.
The ECOWAS Director of Domestic Tax, Tiemtore Salifou, said this on the sideline of a two-day regional seminar focused on problems of tax transition in West Africa in Abuja.
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Salifou suggested VAT increase on items like hospitality industry, expensive perfumes and wines among other imported products.
He said, “There are some products we can increase VAT on without impacting on the lives of the normal Nigerians. I am talking about the hotels, perfumes, wines and certain products for the rich. I don’t think it will have any impact on the common people if government increases tax on them.”
