The Federal Inland Revenue Service (FIRS) has issued Information Circular No.: 2021/19 (“the Circular”) on Guidelines on Simplified Compliance Regime for Value Added Tax (VAT) for Non-Resident Suppliers (NRSs) of goods, services or intangibles to persons in Nigeria through electronic, digital or similar platforms.
The Circular was issued pursuant to the provisions of Section 10(5) of the VAT Act Cap.V1 LFN 2004 (as amended) and replaces other notices and publications issued by the FIRS in this regard. The Guidelines will take effect from 1 January 2022 with respect to supply of services and intangibles, and 1 January 2024 for goods.
Source: Mondaq
Latest Posts in "Nigeria"
- Nigerian Court Upholds VAT Collection by Rideshare Platforms for Food and Transport Services
- House Moves to Place VAT Under Federal Control in Constitutional Amendment Bill
- Nigeria Appoints FIRS as National Peppol Authority to Launch E-Invoicing System
- Nigeria FIRS becomes a Peppol Authority
- Examining VAT Taxation in Nigeria: Landmark Decisions and Implications for Federalism
