Lagos State Governor Babajide Sanwo-Olu has signed into law the State VAT Bill as passed by the House of Assembly.
A statement posted by the Commissioner for Information and Strategy Mr Gbenga Omotoso said the governor signed the “bill for a law to impose and charge VAT on certain goods and services” at about 11.45 am today, after returning from an official trip to Abuja.
By this act, the Bill has now become a Law.
Lagos State joined Rivers State which had passed a law making VAT collection legal, a development which has pitched it against the Federal Inland Revenue Service (FIRS), with some states already siding with the federal agency on why consumption tax otherwise known as the Value Added Tax must be centrally collected.
Rivers and Lagos have often argued that they ought to get more from the federal agency on VAT being two of the states with the best VAT profile in the country.