The Nigeria Startup Act 2022 was signed into law by President Muhammadu Buhari on 19 October 2022. The Act contains measures to promote and support startups, such as a 4-year exemption from income tax and other taxes and a 5% withholding tax rate on technical, consulting, professional, or management services proved by non-resident service providers to qualifying startups. It’s unclear if the tax exemptions or simplifications also include VAT.
Source: Orbitax
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