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Nigeria VAT rise to 7.5% 1 Feb 2020

  • Jan 27, 2020 | Richard Asquith

Nigeria has confirmed the delayed VAT increase from 5% to 7.5% will go ahead on 1 February 2020. It had been scheduled for 1 January 2020. A VAT threshold is being introduced at the same time for NGN 25million annual sales.

In addition, sales of electronic services to Nigerian consumers by non-resident companies will be liable to VAT.

An income withholding tax will be imposed on foreign companies for professional and consulting services provided to Nigerians.

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.
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