- Nigeria’s Revenue Service issued Circular No. 2026/05 on 29 June 2026 to guide VAT administration under the Nigeria Tax Act 2025 and Nigeria Tax Administration Act 2025.
- The circular replaces the former FIRS Circular No. 2022/14 and consolidates the new VAT rules into practical guidance.
- It covers key VAT areas including place and time of supply, valuation of taxable supplies, and treatment of input and output VAT.
- It also addresses VAT withholding agents’ appointment and compliance obligations, and implementation of the Electronic Fiscal System (EFS).
Source: kpmg.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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