Value Added Tax
20 Jan 2020
Nigerians will start paying a new 7.5 per cent Value Added Tax (VAT) on products as part of over 90 changes to 7 tax laws as the newly signed Finance Bill becomes law. Meanwhile, as Nigeria’s Economic Recovery Growth Plan winds down this year, local papers say a new plan is underway. Nonso Obikili, Director of Turgot Centre for Economics and Policy Research joins CNBC Africa from Abuja for more.
3 Aug 2019
Nigerians may soon start paying a five per cent Value Added Tax whenever they make purchases online as the FIRS believes the VAT rate in Nigeria is the lowest in the world and there is a need to get additional taxes from other sources.