THEN;

This is just wrong, covid or no covid. No govt can become rich by taxing poverty..

https://x.com/i/status/1328047809896079361

VAT rate increase will lead to higher inflation, interest rate hike, more unemployment and generally make people poorer.

https://x.com/i/status/1108288160193306624

NOW;

SPOT THE DIFFERENCE
“Increase in VAT rate will lead to inflation” – Taiwo Oyedele (2019)

What was Proposed Then:
1. General VAT increase on almost all items
2. VAT applies on many basic consumptions
3. Businesses cannot claim tax credit for VAT paid on most of their costs

“Increase in VAT rate will not lead to inflation” – Taiwo Oyedele (2024)

What is Proposed now:
1. Specific VAT increase on a few items
2. Remove VAT on most basic consumptions (about 80% of goods and services)
3. Businesses can claim tax credit for VAT paid on all their costs.