Nigeria 15% Luxury VAT
- Apr 9, 2017 | Richard Asquith
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 the former VP Global Indirect Tax at Avalara