By Halimah Olamide
The Chairman of the Presidential Committee on Fiscal Policy, Mr Taiwo Oyedele, has clarified that there is no recommended reduction in the Federal Government’s share from the federation account.
Mr Taiwo disclosed this in an X post on Sunday
This is following reports that federal government is set to take only 10 percent of the total FAAC allocations, while states and local governments will receive a combined 90 percent.
According to Oyedele, the recommendation is in respect of the Value Added Tax (VAT) revenue which is to increase the share of states and local governments to 90%
He further stated that the recommendation is also to discontinue other forms of consumption taxes which constitute multiple taxation on businesses and individuals.