5 Major Developments in Nigeria

5 Major Developments in Nigeria

• FIRS’ Updated Guidelines on VAT Filing Procedures on TaxPro Max Portal 

• Nigeria Charging VAT on Imports of Diesel

• Nigeria Publishes Guidelines on Withholding, Self-Account of VAT

• FIRS to implement new VAT for suppliers, importers

• FG announces plans to collect VAT from traders, others

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Customs

• Prices of Diesel to rise as Customs begins VAT collection

• Customs, Excise, and VAT Highlights of Finance Act 2023

• Direct and Indirect Tax Changes in Finance Act 2023

• Indirect Tax And Its Implications On The Nigerian Economy

Deduction (Input Tax Credit)

• Updated Features for VAT Filing and Payment on Online Platform

Digital Services Tax

• Nigeria Finance Act 2023 Signed into Law

E-Commerce / Electronic Services

• Customs, Excise, and VAT Highlights of Finance Act 2023

• Indirect tax changes in Finance Act 2023

E-invoicing

• What Are the E-invoice Requirements in Nigeria? – VATupdate

Environmental Tax

• Nigeria Approves 2023 Fiscal Policy Measures Including a New Green Tax and Reinstatement of Excise Duty on Telecommunication Services

• New Excise Taxes and Import Tax

Excise

• Customs, Excise, and VAT Highlights of Finance Act 2023
• Direct and Indirect Tax Changes in Finance Act 2023
• Indirect Tax And Its Implications On The Nigerian Economy
• Nigeria Approves 2023 Fiscal Policy Measures Including a New Green Tax and Reinstatement of Excise Duty on Telecommunication Services
• New Excise Taxes and Import Tax

• 10% Excise Duty on Plastics, N8 Tax per Cigarette… Highlights of FG’s New Fiscal Policy

Exemption

• Customs, Excise, and VAT Highlights of Finance Act 2023
• Updated Features for VAT Filing and Payment on Online Platform

Fraud / Tax Evasion

• FG announces plans to collect VAT from traders, others

• FIRS to end multiple taxation, collect market traders’ VAT

Importation

• Nigeria Charging VAT on Imports of Diesel

• Nigeria Implements 7.5% VAT on Diesel Imports

• Nigerian Customs to Start Charging VAT on Diesel Imports
• Nigeria Finance Act 2023 Signed into Law
• New Excise Taxes and Import Tax

Legislative Change

• Direct and Indirect Tax Changes in Finance Act 2023

Liability (Reverse Charge/Withholding)

• Nigeria Publishes Guidelines on Withholding, Self-Account of VAT

• FIRS’ Updated Guidelines on VAT Filing Procedures on TaxPro Max Portal

• Tax Appeal Tribunal Rules on FIRS’ Power to Appoint a VAT Collection Agent

• KPMG Week in Tax: 12 – 16 June 2023

• Federal Inland Revenue Service empowered to appoint non-resident suppliers as agents of VAT collection
• Customs, Excise, and VAT Highlights of Finance Act 2023

• Nigeria Finance Act 2023 Signed into Law

Rate

• Indirect Tax And Its Implications On The Nigerian Economy
• Updated Features for VAT Filing and Payment on Online Platform

• Nigerian VAT rise to 10% – pressure grows

• Experts Support Nigeria’s Proposal To Raise VAT

• Nigeria’s Finance Minister Lied In Claiming Country’s VAT Rate Lowest In The World

Real Estate/Immovable Property

• Customs, Excise, and VAT Highlights of Finance Act 2023
• Indirect tax changes in Finance Act 2023

Refund

• Tax Refunds in Nigeria- Myth or Reality?

Reporting / Compliance

Taxable Amount

• Customs, Excise, and VAT Highlights of Finance Act 2023

Taxable Transaction

• Prices of Diesel to rise as Customs begins VAT collection

• Nigerian Customs to Start Charging VAT on Diesel Imports

Tax Authorities / Penalties

• FIRS partners with Market Traders Association of Nigeria for VAT remittance from informal sector

Technology

• FIRS to implement new VAT for suppliers, importers
• FIRS to end multiple taxation, collect market traders’ VAT

Transfer Pricing

• Nigeria Finance Act 2023 Signed into Law