vat

The Digest: Federation Account Allocation Committee (FAAC) disbursed N2.10 trillion to federal, state, and local governments for September 2025, drawing from a gross revenue of N3.05 trillion. The allocation, detailed in a communiqué chaired by Accountant-General Shamsudeen Ogunjimi, reflects...

The Digest: Nigeria has successfully collected over N600bn in Value Added Tax (VAT) from global digital service providers like Facebook, Amazon, and Netflix. This move follows the amendment of the VAT Act, which brings non-resident companies into Nigeria’s tax network. Key Points: Nigeria...

The Digest: Nigeria's Value Added Tax (VAT) revenue has experienced a significant 84.6% year-on-year increase, reaching N6.7 trillion in 2024, according to the National Bureau of Statistics (NBS). The growth trajectory continued through the year, with Q4’24 showing a 9.5% quarter-on-quarter...

The Digest: Nigeria’s new tax reform, signed into law by President Bola Tinubu, introduces several key changes, including a broad list of VAT-exempted items. The new legislation, effective as of January 2026, targets a range of essential goods and services, providing tax relief across various...