Nigeria will increase the rate of value-added tax to 7.5% from current 5% in 2020 as Africa’s biggest oil producer seeks to shore up falling revenue, the country’s most recent Finance Minister Zainab Ahmed said.
Sources: bloomberg.com and guardian.ng
Latest Posts in "Nigeria"
- Nigeria Enforces VAT on Digital Payments to Boost Revenue and Ensure Tax Compliance
- Nigeria Mandates Pre-Clearance E-Invoicing for Large Taxpayers from November 2025
- FIRS Schedules Three-Day IT Shutdown for 2026 Tax Compliance System Upgrade in Nigeria
- Nigeria’s Tax Reform: Balancing Fiscal Fairness, Free Zones, VAT, and Capital Gains for Growth
- FIRS Urges Large Nigerian Taxpayers to Complete E-Invoicing Integration by November 2025 Deadline
