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Nigeria: President signed Finance Act (2023) including amendments to Value Added Tax Act

Policy overview

Description

President signed Finance Act (2023) including amendments to Value Added Tax Act

On 28 May 2023, the President signed the Finance Bill (2023) into law. Under this Act, the amendment to the Value Added Tax Act mandates that taxable goods imported into Nigeria through online electronic or digital platforms must provide proof of re…

Scope

Policy Area
Taxation
Policy Instrument
Indirect taxes
Regulated Economic Activity
cross-cutting
Implementation Level
national
Government Branch
executive
Government Body
central government

Complete timeline of this policy change

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2023-05-24
adopted

On 24 May 2023, the House of Representatives adopted the Finance Bill (2023). Under this Bill, the …

2023-05-28
adopted

On 28 May 2023, the President signed the Finance Bill (2023) into law. Under this Act, the amendmen…

2023-09-01
in force

On 1 September 2023, the Finance Act (2023) enters into force. Under this Act, the amendment to the…