LAGOS STATE GOVERNOR JIDE SANWO OLU HAS SIGNED INTO LAW THE STATE VAT BILL AS PASSED BY THE HOUSE OF ASSEMBLY

Lagos State Governor Jide Sanwo Olu has signed into law the State VAT Bill as passed by the House of Assembly. The "bill for a law to impose and charge VAT on certain goods and services" was signed at about 11, 45am today.

By this act, the Bill has now become a law.

According to the law, revenue accruing drom VAT would be shared on a ratio of 75 per cent to 25 per cent between the state government and its local government council areas.