Lagos State Governor, Babajide Sanwo-Olu has signed the VAT bill into law.
On Thursday, Lagos State House of Assembly passed the VAT bill into law.
According to the state’s Commissioner for Information and Strategy, Gbenga Omotosho.
“By this act, the Bill has now become a Law,” Omotosho said.
“Lagos State Value Added Tax Law: A Bill for a Law to Impose and Charge Value Added Tax On Certain Goods And Services, Provide for the Administration of the Tax and for Related Matters,” empowers the state to charge VAT at the rate of six per cent on the value of goods and services in the state.
Lagos State is the second state after Rivers to have a VAT law.
