The Chairman of the Presidential Committee on Tax Policy and Fiscal Reforms, Taiwo Oyedele, says Value Added Tax (VAT) should be suspended on Automotive Gas Oil (AGO) also known as diesel to cushion the biting economic effect of the removal of subsidy on Premium Motor Spirit (PMS) also known as petrol
Oyedele made this known on Channels Television’s Sunrise Daily breakfast programme on Wednesday.
“What the President wants us to do is that within the first 30 days, there are those low-hanging fruits that people have generally agreed that this is a problem but nobody has done anything about it,” he said.
“Personally, for example, this is not promising that it would be done. I think that we should suspend VAT on diesel because we removed fuel subsidy on petrol and prices are going up.