The Nigeria Startup Act 2022 was signed into law by President Muhammadu Buhari on 19 October 2022. The Act contains measures to promote and support startups, such as a 4-year exemption from income tax and other taxes and a 5% withholding tax rate on technical, consulting, professional, or management services proved by non-resident service providers to qualifying startups. It’s unclear if the tax exemptions or simplifications also include VAT.
Source: Orbitax
More information can also be found HERE, HERE, HERE, and HERE
Latest Posts in "Nigeria"
- FIRS Schedules Three-Day IT Shutdown for 2026 Tax Compliance System Upgrade in Nigeria
- Nigeria’s Tax Reform: Balancing Fiscal Fairness, Free Zones, VAT, and Capital Gains for Growth
- FIRS Urges Large Nigerian Taxpayers to Complete E-Invoicing Integration by November 2025 Deadline
- FIRS Calls on Large Taxpayers to Adopt E-Invoicing and Electronic Fiscal System Compliance
- Lawyers Demand Urgent Review of 7.5% VAT Policy on Legal Services in Nigeria
