Former CBN Director Reacts As FG’s Plan To Charge VAT On Online Transactions

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Dr Titus Okunronmu, a former Director, Budgetary Department, Central Bank of Nigeria, has commended the Federal Government over its plan to charge Value Added Taxes (VAT) on online Business Transactions.
Okunronmu gave the commendation in an interview with News Agency of Nigeria (NAN) in Ota, Ogun, on Monday.
He spoke against the backdrop of the disclosure by Mr Tunde Fowler, the Chairman, Federal Inland Revenue Services, in London on Friday that the Federal Government would soon start collecting VAT on online business transactions.
The former CBN director noted that the decision was a right step in the right direction as it would help to generate additional revenue for the country.

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