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Nigeria VAT update

  • Nov 9, 2019 | Richard Asquith

The Nigerian Finance Bill was progressed to the next stage of its parliamentary review. It  includes the following measures, which come into effect at the start of 2020.

  • VAT rate rises from 5% to 7.5%
  • Intangibles property becomes liable to VAT
  • Extending the exempt status to basic foodstuffs
  • Introducing a NGN 25million VAT registration threshold
  • Raising infringement penalties

VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax Richard Asquith
Richard Asquith is the former VP Global Indirect Tax at Avalara
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