Business & Economy
Lagos VAT Bill: Lagos Want 50-50 Sharing Formula With State Government
The Local Government Authorities in Lagos State under the aegis of Conference of 57 Local Governments and Local Council Development Areas (LCDAs) have requested for an equal sharing formula with the state in the proposed Value Added Tax (VAT) bill now before the state House of Assembly.
The local councils and LCDAs are asking for a 50-50 sharing formula with the states, as against the 75-25 proposed in the bill in favour of the state governments, The Publisher Nigeria gathered.
This request was made by the Secretary of the Conference 57 and Chairman of Odi-Olowo/Ojuwoye LCDA, Abdulrasak Ajala, at a one-day public hearing on the bill organised by the Lagos State House of Assembly on Wednesday, according to the News Agency of Nigeria.