Nigeria: VAT levy on online purchases
5th July 2019: Nigeria is set to introduce a new Value Added Tax levy on eCommerce.
The Federal Inland Revenue Services of Nigeria has revealed it is planning to levy VAT on online purchases of goods and services via bank payment split payment.
Under the new plan, it will be mandatory for banks to withhold the VAT on any transactions between consumers and online suppliers.
The VAT element will be withheld by the banks at the standard 5% rate and be remitted directly to the government.
If you’d like to find out more about how online purchases can be impacted by VAT, get in touch.
See more Taxback International Articles
Poland: Quick Fixes
28th January 2020: On 4 December 2019, the Council of the European Union amended the Directive 2006/112/EC and announced the Council Directive (EU) 2018/1910.
VAT rate changes 2020.
24 January 2020: Canary Island, Germany, Czech Republic, Ireland and Italy are some of the countries to be impacted by VAT changes in 2020.
Italy: VAT group update for non-resident companies.
24th January 2020: Non-resident Italian entities with non-taxable activities can be part of a VAT group.