- The rate for VAT is increased from 5% to 7.5%
- A threshold of NGN25 million of turnover in a calendar year will be required for VAT registration.
- Introduction of “reverse charge rule” which requires recipients of goods and services supplied in Nigeria to self-account for VAT on goods purchased for nonresidents
- ……
Source EY
Latest Posts in "Nigeria"
- NRS Denies New VAT on Banking Services, Clarifies Existing Tax Applies Only to Service Charges
- What You Need to Know About 7.5% VAT on Bank Charges Starting January 19
- Nigeria Revenue Service Denies New VAT on Banking Services, Clarifies Existing Tax Applies
- NRS Clarifies: No New VAT on Banking Services, Charges, or Electronic Transfers in Nigeria
- Nigeria Revenue Service Confirms No New VAT on Banking Services, Dispels Misinformation
