Lagos: Governor Sanwo-Olu signs VAT Bill into law

MINA Blog- Lagos State Governor Babajide Sanwo-Olu on Friday signed into law the State VAT Bill as passed by the House of Assembly.

 

According to a statement by Mr Gbenga Onotoso, Commissioner for Information and Strategy, the Governor signed the “bill for a law to impose and charge VAT on certain goods and services”, after returning from an official trip to Abuja.

 

“By this act, the Bill has now become a Law.”

 

The Lagos State House of Assembly had on Thursday passed the VAT Collection Bill and the Anti-Open Cattle Grazing Bill in the state.

 

The House passed the two bills after a unanimous votes by all the 40 lawmakers during the plenary session where they were read for the third time.

 

The bill is entitled “A Bill for a Law to Prohibit Open Cattle Grazing in Lagos State, The Trespass of Cattle on Land and for other connected Purposes.”

 

“A Bill for a Law to impose and charge Value Added Tax (VAT) on Certain Goods and Services, Provided for the Administration of the Tax and Other Related Matters.”

 

Obasa commended members of the Assembly for their passion to ensure that the state continue to develop.

 

 “I thank you all for this historic exercise,” he said.

The Assembly had on Wednesday held separate public hearings on the bills with stakeholders expressing support for the bills.

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