- FIRS aims to increase VAT revenue to N5 trillion
- EU concerned about tax evasion in Nigeria
- Comprehensive reviews and reforms in tax framework contributing to revenue increase
- Nigeria’s VAT collection has risen from N1.1 trillion in 2019 to N3.6 trillion in 2023
- Discussions ongoing about revisiting VAT rate
- FIRS broadening tax collection scope to include non-resident suppliers and reviewing tax exemptions
- Performing VAT gap analysis to improve collection
- EU calls for increased transparency in tax revenue management
Source: vanguardngr.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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