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EU-ECOWAS Delegation Criticizes Nigeria’s Ineffective VAT System and Calls for Reform

  • EU-ECOWAS delegation to Nigeria says VAT system in the country is not working
  • VAT collection in Nigeria is below ideal due to corruption and poor implementation
  • Companies in Nigeria struggle with VAT compliance, especially SMEs
  • Stable and predictable taxation system needed for investors to operate with ease
  • FIRS plans to make taxation system customer-centric and introduce a one-stop shop for all taxes in the country

Source: punchng.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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