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Tax substitution as double taxation (2)

Tax substitution as double taxation (2)

Though Value Added Tax, VAT is within the remit of the FIRS, the Value Added Tax Act 2004 stipulates certain goods and services such as medical goods and services, sales of books and educational materials, sales of basic food items and baby products, and all export goods and services which are exempted from VAT, meaning any business involved in such goods and services do not pay VAT. The current action by the FIRS through the banks did not seek to distinguish Business Names operating within the exempted space.

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