- Stakeholders in Nigeria’s aviation sector criticize the New Tax Act 2025, claiming it contradicts international treaties and could harm the struggling industry. The Act imposes VAT on airlines, conflicting with existing exemptions and risking double taxation. Concerns include potential reduced passenger traffic due to increased fares. The government defends the Act as part of aligning with global practices, despite acknowledging potential cost increases.
Source: businessday.ng
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.
Latest Posts in "Nigeria"
- Nigerian Court Upholds VAT Collection by Rideshare Platforms for Food and Transport Services
- House Moves to Place VAT Under Federal Control in Constitutional Amendment Bill
- Nigeria Appoints FIRS as National Peppol Authority to Launch E-Invoicing System
- Nigeria FIRS becomes a Peppol Authority
- Examining VAT Taxation in Nigeria: Landmark Decisions and Implications for Federalism
