The Tax Appeal Tribunal (“TAT” or “the Tribunal”) sitting in Lagos, on 10 February 2022, delivered a landmark judgement on what constitutes “stock-in-trade”, for the purpose of determining allowable input VAT which can be claimed against output VAT. The decision arose from an appeal by Chi Limited (Chi/the Company) against the Federal Inland Revenue Service (FIRS).
Source: andersen.com
Latest Posts in "Nigeria"
- Examining VAT Taxation in Nigeria: Landmark Decisions and Implications for Federalism
- Nigeria Announces 2025 Tax Reforms and Duty-Free Import Updates
- Nigeria FIRS becomes a Peppol Authority
- Nigerian News Agency Announces New Regime Allowing VAT Credits on Assets
- Nigeria Introduces USD300 Duty-Free Threshold for Low-Value Imports Starting September 2025
