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Nigeria 15% Luxury VAT

  • Apr 8, 2017 | Richard Asquith

Nigeria 15% Luxury VAT

Nigeria has proposed the introduction of new luxury goods VAT rate of 15%.  The standard VAT rate is 5%.  If approved, the new rate would be implemented from 2018.

Goods targeted will include champagne and yachts.

Nigeria’s budget deficit has suffered in the past three years with the decline in oil prices.

VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax Richard Asquith
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He is part of the European leadership team which won International Tax Review's 2020 Tax Technology Firm of the Year. Richard trained as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.