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Nigeria 15% Luxury VAT

  • VAT
  • 09 April 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.

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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 this year won International Tax Review's Tax Technology Firm of the Year. Richard qualified as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.