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Regional News of Wednesday, 15 September 2021

Source: punchng.com

Assembly condemns Ogun VAT allocation, bill passes second reading

The Ogun State House of Assembly The Ogun State House of Assembly

The Ogun State House of Assembly has fixed the public hearing on the proposed Value Added Tax Law, 2021 for Thursday.

This was just as the bill titled, ‘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 Purposes,’ scaled first and second readings during the plenary on Tuesday.

The lawmakers threw their weight behind the VAT bill and gave it an accelerated hearing during the plenary presided over by the Speaker, Olakunle Oluomo. The Speaker announced that the public hearing on the bill would hold on Thursday at 10am after he committed the bill to the House Committee on Finance and Appropriation for further legislative action.

Earlier, the lawmakers unanimously agreed that the bill, when operational, would accord the state its rightful position as a viable federating unit. The motion for the second reading had earlier been moved by the Majority Leader, Yusuf Sheriff, seconded by Ganiyu Oyedeji and supported by the whole House through a voice vote.

The lawmakers also underscored the need for the enactment of the proposed law to further improve revenue accruable to the state, with a view to ensuring a seamless funding for more developmental projects.

In his remarks, the Speaker said, “The leading position of our state among the comity of states in the area of revenue generation must be complemented with equal remittance of allocation on monthly basis from the federation account.”