The Value Added Tax Act, LFN 2004 (VATA) is the enabling law imposing Value Added Tax (VAT) on the supply of taxable goods and services in Nigeria, and in furtherance of this, the Act has empowered the Federal Inland Revenue Board to be responsible for the administration and collection of this tax.
It is trite that “Acts” in Nigeria are laws enacted by the National Assembly, that is, the law making body at the Federal level. The 1999 Constitution (as amended) empowers the National Assembly to legislate on matters contained in the Exclusive and Concurrent Legislative list provided in the 2nd schedule of the Constitution, and by necessary implication, the National Assembly does not constitutionally possess the power to legislate on matters not specifically listed, save for instances where the constitution itself has permitted same.
Source Blackwoodstone
