The lawmakers considered the recommendations clause-by-clause, after the committee chairman James Falake moved the motion. Two sections were altered.

Local governments will receive 35% of VAT revenue under a similar formula. Additionally, the timeline for issuing Taxpayer Identification Numbers has been extended from two to five working days to ...

state, and local governments, have been made public. Under current law, VAT is allocated in a 15 percent, 50 percent, and 35 percent split Read More ...

Increment in VAT: Value Added Tax (VAT) will increase from 7.5% to 10% by 2025, 12.5% from 2026 to 2029, and 15% from 2030 onwards ... Revenue Sharing Formula: A new revenue sharing formula ...