Customs, Excise Tariff, etc. (Consolidation) Act (CETA)
a. Introduction of a levy on all eligible goods imported into Nigeria from outside Africa to fund capital contributions, etc.
b. Introduction of excise duty on all services provided in Nigeria
Value Added Tax (VAT) Act
a. Introduction of anti-avoidance transfer pricing rules to counteract artificial/fictitious agreements between related parties for VAT purposes
b. FIRS to appoint VAT withholding/collection agents
c. Removal of imposition of VAT at the point of clearance on imported goods purchased via electronic means through a nonresident collection agent
d. Definition of the term “building” for the purpose of the Act
Source: EY
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