ICAN ex- boss seeks law empowering Oyo govt to collect VAT

AFORMER Chairman of the Institute of Chartered Accountants of Nigeria ( ICAN) in Oy o State, Oyebade Oyedepo, yesterday, urged the Oy o State House of Assembly to emulate Rivers State counterpart by making a law to empower the Executive arm of government to collect Value Added Tax ( VAT).

Oyedepo, who spoke with

The Guardian in Ibadan, urged the House to make the law to shore up the state’s revenue profile.

“It is advisable that Oy State Government goes in that direction. The judgment at present says the Rivers State Government should go ahead to collect VAT. I am urging Oyo State to toe the same line. Let the state government do the needful and collect the VAT.”

Also, a Senior Advocate of Nigeria ( SAN), Oladipo Oladope, who lauded the judgment, said it would be his delight that state governments collect VAT.

He, however, cautioned state governments to wait for the pronouncement of upper courts on the matter adding that it is a serious constitutional matter.

MEANWHILE, Speaking on the development, the Deputy Speaker of the Assembly, Muhammed Fadeyi, said he had been working on the bill that would empower the state to collect VAT.

“It is a private member bill. I have been working on it. I may hold on to it to see the position of the Executive on it.

“The judgment obtained by Rivers State Government will help in many ways. It is a positive move towards fiscal federalism. It is good for democracy because states are beginning to discover and identify the loopholes in the constitution,” Fadeyi said.