Preparation for the commencement of VAT Direct Initiative (VDI) by the Market Traders Association of Nigeria (MATAN) on behalf of the Federal Government has reached an advanced stage. In the last month, officials of Federal Inland Services (FIRS),
MATAN and Burke-Frazier met with some stakeholders to fine-tune the collection of VAT Direct Initiative from traders nationwide.
The Managing Director of Burke-Frazier Consulting Firm Ltd, Mr Ayo Abiola, said over 80 million members are waiting for MATAN to start the collection of the VAT Direct Initiative (VDI) from the informal sector.
Abiola disclosed that MATAN would operate in the 774 local government areas in the country, adding that enumeration of members was ongoing nationwide.”
He said VDI would increase payment of tax in the informal sector and reduce the double taxation of members, adding that the Tinubu administration responded to MATAN’s cry over multiple taxation paid by its members. “In recognition of our position in the informal sector, the government mandated us to collect VDI on their behalf.
The FIRS estimate MATAN members at #40 million, but we have over #80 million members in the 774 LGAs engaged in buying and selling as well as providing goods and services.
