Nigeria: Value Added Tax rate amendment in Finance Act 2019
Progress
Scope
Timeline of events
Finance Act 2019 entered into force including standard Value Added Tax rate increase
On 1 February 2020, the Finance Act 2019 enters into force. The Act amendments to the Value Added Tax (VAT) Act including a standard VAT rate increase from 5% to 7.5%. The Act requires non-resident providers to register for VAT if their turnover exc…
SourceFinance Act 2019 was signed by President including standard Value Added Tax rate increase
On 13 January 2020, The President signed the Finance Bill 2019 into law. The Act amendments to the Value Added Tax (VAT) Act including a standard VAT rate increase from 5% to 7.5%.
SourceFinance Bill 2019 was adopted by Senate including standard Value Added Tax rate increase
On 11 December 2019, the Senate passed the Finance Bill 2019 and sent it to the President for assent. The Bill amendments to the Value Added Tax (VAT) Act including a standard VAT rate increase from 5% to 7.5%.
SourceFinance Bill 2019 was passed to Senate including standard Value Added Tax rate increase
On 28 November 2019, the House of Representatives passed the Finance Bill 2019 to the Senate. The Bill amendments to the Value Added Tax (VAT) Act including a standard VAT rate increase from 5% to 7.5%.
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