VAT

June 12, (THEWILL) — Nigeria generated N2.42 trillion in Value Added Tax (VAT) revenue in the first quarter of 2026, marking a 17.06 percent increase from the N2.07 trillion recorded in the corresponding period of 2025, according to the...

April 24, (THEWILL) — Nigeria’s Value Added Tax (VAT) disbursement to states climbed sharply in February 2026, with gross allocations rising by 30.36 percent month-on-month to ₦551.77 billion from ₦423.25 billion recorded in January. Data from the Office of the...

April 19, (THEWILL) — Picture this: A customer walks into your fabric shop on Adeniji Adele Road in Lagos and spends N20,000. At 7.5 percent VAT, they hand you an extra N1,500. That N1,500 is not a tip, not...

January 15, (THEWILL) — The Nigeria Revenue Service (NRS) has clarified that Value Added Tax (VAT) on banking fees and related service charges is not a new development. The agency dismissed reports suggesting that the Nigeria Tax Act 2025...

January 14, (THEWILL) — The Federal Government has announced that a 7.5% Value Added Tax (VAT) will be applied to certain electronic banking services, including mobile bank transfers and Unstructured Supplementary Service Data (USSD) transactions, effective from Monday, January...

October 30, (THEWILL) – Two sets of tax bills supposedly drafted by the Presidential Committee on Fiscal Policy and Tax Reforms, which could significantly alter the distribution of Value Added Tax (VAT) revenues among Nigeria's federal, state, and local...

October 14, (THEWILL) – The National Assembly has received an executive bill proposing increase in the Value Added Tax (VAT) from 7.5 percent to 10 percent in 2025 and a further increase to 12.5 percent in 2026...

October 09, (THEWILL) – The Federal government says it has commenced the implementation of the Presidential Executive Order directing zero Value Added Tax (VAT) on pharmaceutical products and medical devices. THEWILL reports that President Bola Tinubu had in June 2024,...

October 03, (THEWILL) – The Federal Government has announced Value Added Tax (VAT) exemptions for various energy products, including diesel, Liquefied Natural Gas (LNG), Compressed Natural Gas (CNG), and electric vehicles, among others. Minister of Finance and Coordinating Minister...

September 09, (THEWILL) – Wale Edun, Minister of Finance and Coordinating Minister for the Economy and former Vice President, Atiku Abubakar have disagreed over alleged plans by the Federal Government to increase the rate of Value-Added Tax, VAT, from...