The Lagos Chamber of Commerce and Industry (LCCI) has called on the federal government to extend the suspension of Value Added Tax (VAT) on diesel to staple food items and other energy-related items.
In a statement issued yesterday, LCCI Director-General, Dr. Chinyere Almona, commended the government’s decision to suspend VAT on diesel, but says an extension of the waiver will cushion the effect of inflation on businesses and consumers.
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Dr. Almona recalled earlier concerns about the effect of the 7.5 percent diesel tax on business operations and its transmission to consumers.
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