Nigeria: FIRS defers implementation of simplified compliance regime for VAT for non-resident suppliers of goods
18 January, 2024
On 15 January 2024, Nigeria’s Federal Inland Revenue Service (FIRS) published a public notice declaring that it deferred enacting the Guidelines on the Simplified Compliance Regime for VAT for Non-Resident Suppliers of goods to Nigeria through digital platforms. The regime went into force on 1 January 2024. This postponement is to allow the service to conclude the development of a seamless process for the effective and efficient process of the collection and remittance of the tax. The implementation of the guidelines on the supply of services and intangibles by non-residents commenced on 1 January 2022 and is not affected by this notice.
The Nigerian Oil and Gas Industry Content Development (NOGICD) Bill, 2023 has been presented before the National Assembly which introduces tax law changes and new incentives to promote Nigeria’s oil and gas sector. The key measures include a
Nigeria’s Federal Inland Revenue Service (FIRS) has released detailed guidelines on Advance Pricing Agreements (APAs), providing a framework for companies to establish transfer pricing agreements with tax authorities in advance. Businesses
According to a release, officials from India and Nigeria held discussions on bilateral relations from 17 to 18 November 2024, with a focus on finalising negotiations for an income tax treaty. During this period, Prime Minister Shri Narendra Modi
Nigeria’s President presented four bills to the National Assembly outlining measures to revise tax laws and modernise Nigeria’s tax system on 3 October 2024. The bills have been forwarded to the House Committee on Finance for review and
Nigeria’s Federal Ministry of Finance has unveiled two major fiscal incentives aimed at revitalising Nigeria's oil and gas sector on 2 October 2024. These are Value Added Tax (VAT) Modification Order 2024, which has been published in the
Nigeria’s Federal Ministry of Finance has announced the Deduction of Tax at Source (Withholding) Regulations 2024 has been published in the official gazette on Wednesday 2 October 2024. The commencement date of the new Regulations is 30
