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Wednesday, 04 September 2024 17:46

Nigeria’s tax system among lowest globally – Bill Gates

Nigeria’s tax system among lowest globally – Bill Gates

The co-chair of the Bill and Melinda Gates Foundation, Bill Gates, has said that Nigeria’s Value Added Tax is among the lowest worldwide.

Bill Gates disclosed this on Tuesday during the Nutrivision 2024, dialogue held in Abuja.

The billionaire said this while responding to a question on potential financing mechanisms for large-scale public health interventions.

According to him, there are plans for the government to fund more health-related programs.

“Over time, there are plans for Nigeria to fund the government more than it does today. The actual tax collection in Nigeria is pretty low.

This comes as Bill Gates participated in Nigeria’s National Economic Council on Wednesday.

Recall Meanwhile, Taiwo Oyedele, the Chairman Presidential Committee on Fiscal Policy and Tax Reforms announced that plans are on the way to propose a law that would increase VAT from 7.5 percent to 10 percent.

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