- Nigeria’s new tax guidelines create a faster, separate VAT refund process under the 2025 tax laws.
- VAT refund claims must be filed within 12 months of the transaction, or the right is lost.
- Valid claims must be handled within 30 days, with refunds paid in cash or offset against tax liabilities if requested.
- Refunds may apply to excess input VAT, humanitarian donor-funded projects, VAT deducted at source, tax errors, and exempt/zero-rated items.
- Fraudulent claims attract a 100% penalty plus interest at the Central Bank Monetary Policy Rate.
Source: regfollower.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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