Nigerian Governors endorses revised VAT sharing formula, other tax reforms
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00:00We, members of the International Council, and the President and the Supreme Council convene on a single-day referendum on a number of international issues,
00:13including the reform of the international policies and practices, and the right of the public competition.
00:22The referendum reiterates strong support for the comprehensive reform of Manitoba's decade-old tax laws.
00:32Members acknowledge the importance of modernizing the tax system to enhance fiscal stability and align it with global best practices.
00:43Two, the referendum endorses an advanced value-added tax-for-service format to ensure equitable distribution of resources,
00:57as follows, 50% based on equality, 30% based on innovation, and 30% based on openness.
01:09Three, members also agree that there should be no increase in VAT rates from 7.5% equality or innotion-concomitant income tax,
01:24from an oil 50% and inside, to maintain economic stability.
01:31The reform will protect the continued evolution of essential use of agricultural products for VAT,
01:39so that we can continue to safeguard the welfare of Manitoba citizens and promote agricultural activity.
01:48Four, the minister recommended that there should be no permanent costs for telephone,
01:57gasoline, and media in the sharing of the government legis in the future.
02:06In light of the fact, the minister supports the continuation of the decision-making process
02:13at the national assembly that will culminate in the initial legislation of the tax reform in Manitoba.