Low VAT Compliance in Nigeria: EU/ECOWAS Delegation Calls for Reform and Cooperation

• EU and ECOWAS delegation in Nigeria criticizes low Value Added Tax system
• Blamed on corruption and poor implementation
• FIRS aims to make taxation system customer-centric
• Introduction of one-stop shop for all taxes
• VAT system in Nigeria not working effectively
• Lack of cooperation between tax authorities and businesses
• Low VAT rate of 5% hindering revenue generation
• Tax expert highlights poor compliance due to corruption
• Calls for better compliance and enforcement of tax laws

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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