- an increase in the value-added tax (“VAT”) rate from 5% to 7.5%, effective from 1 February 2020;
- VAT registration threshold of NGN25-million turnover;
- “place of supply” rules for services, and deeming any service supplied to a Nigerian-based customer and enjoyed in Nigeria to be VATable in Nigeria;
- defining zero-rated “exported services” for VAT purposes as a service rendered within or outside Nigeria by a person resident in Nigeria to a non-resident person outside of Nigeria, in line with the destination principle;
- and introducing a requirement for a customer to self-account for VAT where the supplier or VATable goods or services failed to charge VAT.
Source: ensafrica.com
