We’re Implementing A New VAT Rate, Not Increasing Prices – Multichoice - Business - Nairaland
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| We’re Implementing A New VAT Rate, Not Increasing Prices – Multichoice by Jadsy01(f): 8:50am On May 16, 2020 |
Pay Television Company, MultiChoice Nigeria, has dismissed reports that it is set to increase subscription rates for its DStv and GOtv packages from June 1. The company explained that the price adjustments it recently announced, which take effect from June 1, are to reflect the increase in the rate of the Value Added Tax (VAT) by 2.5 percent from five percent to 7.5 percent by the Federal Government. “The 2.5 per cent increase followed the signing of the Finance Act 2019 on January 13 by President Muhammadu Buhari. The new VAT rate, which took effect from February 1, is one of the measures adopted by the Federal Government to increase revenue from non-oil sources”, the company said in a statement. In the statement, MultiChoice said... Read more - https://www.ekomiami.com.ng/2020/05/16/were-implementing-a-new-vat-rate-not-increasing-prices-multichoice/
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