- FIRS aims for N5 trillion VAT in 2024
- FG ready to align with ECOWAS directive on tax reform
- VAT has been increasing since 2019
- Government expects N19.41 trillion revenue from FIRS in 2024
- Discussion at National Assembly to pass VAT reform into law
- VAT rate applicable to taxable operations within 5-20%
- FIRS expanding scope of VAT collection to include non-resident resource suppliers
- Moving from Net Profit method to Full Consumption method of tax collection
- Working with UNDP to train on VAT gaps
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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