Sanwo-Olu signs VAT Bill into law

Lagos State Governor, Mr Babajide Sanwo-Olu, on Friday signed the state Value Added Tax (VAT) Bill into Law.

The State House of Assembly had on Thursday, Sept. 9, passed the bill for a law to impose and charge VAT on certain goods and services.

Sanwo-Olu, who assented to the Bill at about 11.45 a.m. after returning from an official trip from Abuja, said: ”By this act, the Bill has now become a Law.”

Supreme reports that the Assembly passed the Bill after a unanimous votes by all the 40 lawmakers during the plenary session, after it was read for the third time.

The Speaker of the Assembly, Mr Mudasiru Obasa, thereafter, directed the Acting Clerk, Mr Olalekan Onafeko, to transmit a clean copy of the bill to the governor for assent.