No fewer than twenty key items will be excluded from the newly increased value added tax rate of 7.5%.
The Senior Special Assistant on Media and Publicity to the Vice President, Laolu Akande, who disclosed this in a statement in Abuja.
He added that the VAT increase would not lead to increase cost of living for Nigerians.
Bittertruth Media reports that the said VAT-excluded items are;
1. Sanitary pads
2. Additives (honey),
5. Cooking Oils
6. Culinary herbs
8. Flour and Starch
9. Fruits (fresh or dried)
10. Live or raw meat and poultry
17. Water (natural water and table water)
18. Tuition relating to the nursery, primary, secondary and tertiary education
19. Services rendered by microfinance banks.
20. Sanitary towels
The new Valued Added Tax (VAT) increase is expected to take effect from February.