{"id":85727,"date":"2021-09-23T18:28:13","date_gmt":"2021-09-23T17:28:13","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=85727"},"modified":"2021-09-23T18:28:13","modified_gmt":"2021-09-23T17:28:13","slug":"decentralisation-of-vat-collection-will-favour-every-state-says-udom-emmanuel","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2021\/09\/23\/decentralisation-of-vat-collection-will-favour-every-state-says-udom-emmanuel\/","title":{"rendered":"Decentralisation of VAT collection will favour every state, says Udom Emmanuel"},"content":{"rendered":"<p>Governor of Akwa Ibom state, Udom Emmanuel has stated that the decentralisation of value-added tax (VAT) collection &#8220;will favour every single state&#8221; in the country.<\/p>\n<p>The Federal Inland Revenue Service <a href=\"https:\/\/www.withinnigeria.com\/news\/2021\/09\/23\/collection-of-vat-by-firs-remains-fg\/\">(FIRS)<\/a> in recent weeks has been in a legal tussle over VAT collection with Rivers and Lagos state governments<span data-preserver-spaces=\"true\">.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The two states had enacted laws decentralising the collection of the consumption tax.<\/span><\/p>\n<p>Meanwhile, some states had also rallied in support of FIRS, kicking against the proposed disruption.<\/p>\n<p>Speaking during a programme on Arise TV on Thursday, Udom said opponents of the decentralisation of VAT collection can\u2019t envision the \u201chidden treasure\u201d it will bring.<\/p>\n<p>\u201cIf my brother states have gone to court, we are all one and in the same basket. All the 36 states will not need to join at the same time. As of today, my brother in Rivers has gone far enough. I don\u2019t rush to sign that into law. For now, let me allow the rule of law. Let\u2019s allow the rule of law to take its course,\u201d the governor said.<\/p>\n<p>\u201cSome states saying that this is not needed is probably because people don\u2019t see the hidden treasure in VAT. There are so many things, and we\u2019ve discussed this at so many fora.<\/p>\n<p>\u201cFor example, If I sell a house in Uyo, and the value of the property is enhanced because of good roads, electricity and security that\u2019s been provided by the state government and when VAT is taken out of that property, why shouldn\u2019t that tax 100% come to me? Why should I take it to go and share?<\/p>\n<p>\u201cIt\u2019s the same thing everywhere, so those who are saying that VAT cannot favour everyone; it will favour every single state in this country. There\u2019s no exclusion at all. Because it\u2019s a consumption tax, and whenever there are human beings, there must be activities. And where there is activity, there must be consumption, and where there is consumption, VAT follows, which will lead to revenue.\u201d<\/p>\n<p>Between January and August 2021, Akwa Ibom generated N8.36 billion in VAT. In that same period, the state received N27.75 billion in VAT revenue from the federation accounts allocation committee (FAAC).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Governor of Akwa Ibom state, Udom Emmanuel has stated that the decentralisation of value-added tax (VAT) collection &#8220;will favour every single state&#8221; in the country. The Federal Inland Revenue Service (FIRS) in recent weeks has been in a legal tussle over VAT collection with Rivers and Lagos state governments. The two states had enacted laws [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":33426,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_override_bookmark_settings":[],"jnews_override_counter":[],"footnotes":""},"categories":[2],"tags":[8228,1180,9552,15406],"class_list":["post-85727","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","tag-akwa-ibom-state","tag-firs","tag-udom-emmanuel","tag-vat"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Decentralisation of VAT collection will favour every state, says Udom Emmanuel<\/title>\n<meta name=\"description\" content=\"Governor of Akwa Ibom state, Udom Emmanuel has stated that the decentralisation of 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