NEWS
FG “All Online Purchase Will Attract Additional 5% VAT Charge” [See reactions]
VAT or Value Added Tax as is common knowledge,is an added amount on the cost of goods as the value of those goods increase through each stage of production or distribution.
VAT is also a tax placed on a product whenever value is added to each stage of the supply chain,from production to the point of sale. The amount of VAT that the user pays is on the cost of the product,less any of the costs of materials used in the product that have already been taxed.
Nigeria as a country recently proposed a VAT of 5% on all online purchases. The result of this being that upon every online purchase made,the buyer pays an extra expense based on the amount of the goods bought,thereby spending 5% more on the worth of their goods than they should.
This new development has been referred to by Nigerians as not only outrageous,but also highly inconsiderate. Below are some of those reactions: 
