The directive issued by the Federal Inland Revenue Service (FIRS) appointing MTN, Airtel, and deposit money banks (as defined by the Central Bank of Nigeria guidelines) as Value Added Tax (VAT) Collection Agents stirred significant discussion and analysis within the business and taxation sectors. This article aims to provide an in-depth examination of this directive, […]

The Federal Inland Revenue Service (FIRS) issued Information Circular No. 2023/01 on 3 March 2023, detailing guidelines for the withholding and self-accounting of Value Added Tax (VAT). These guidelines are crucial for understanding the legal obligations and procedures related to VAT management in Nigeria. Here are the key points outlined in the circular: Guideline on

The Federal Inland Revenue Service (FIRS) has released Guidelines outlining the process for refunding Value Added Tax (VAT) payments made by Diplomats, Missions, and International Organizations (Qualified Persons) on goods and services. These Guidelines aim to provide a structured framework for handling VAT refund requests from such eligible entities. Under these Guidelines, Diplomats, Diplomatic Missions,