VATupdate

Tax appeal tribunal rules that mortgage institutions are not liable to VAT

On 19 June 2019, the Tax Appeal Tribunal (TAT or Tribunal) held that mortgage institutions are not liable to pay Value Added Tax (VAT) on services rendered within the scope of their business. This decision was reached in the case between Infinity Trust Mortgage Bank Plc (Infinity Bank or the Bank) v Federal Inland Revenue Service (FIRS).

Source: andersentax.ng

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