VATupdate

Nigeria Tax Issues: Examining The N25 Million Threshold For VAT Exemption

In 2019, the Federal Government of Nigeria enacted the Finance Act 2019 (“FA19”), which introduced several amendments to extant tax statutes. The FA19 was enacted for the tripod reasons of harmonizing tax statutory provisions with emerging global realities and best practices, improving fiscal revenue generation, and creating an enabling environment for commercial “fingerlings” or Small and Medium Enterprises (SMEs).

Source: spaajibade.com

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