VATupdate

Nigeria – Stock exchange commissions are exempt from VAT | KPMG | GLOBAL

Nigeria – Stock exchange commissions are exempt from VAT | KPMG | GLOBAL.

October 28:  Pursuant to a recent order in Nigeria, commissions earned on stock exchange transactions are exempt from value added tax (VAT).

The order was made public on 27 October 2014. However, the effective date of the VAT exemption is 25 July 2014, and it is effective for a five-year period.

Read an October 2014 report [PDF 209 KB] prepared by the KPMG member firm in Nigeria: Stock Exchange Transactions Now Exempt from Value Added Tax (VAT)

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