Nigeria: Finance Bill 2019 was adopted by Senate requiring non-resident companies to register for Value Added Tax

On 11 December 2019, the Senate passed the Finance Bill 2019 and sent it to the President for assent. The Bill introduces amendments to the Value Added Tax (VAT) Act to ensure that non-resident companies providing taxable goods or services in Nigeria are properly captured under the VAT regime. Non-resident companies are required to register for VAT using the address of their Nigerian counterpart and must include VAT on invoices for taxable services supplied in Nigeria. If VAT is not charged, the Nigerian recipient is obligated to self-account for and remit the VAT to the Federal Inland Revenue Service (FIRS).