FIRS Suspends Implementation of VAT Guidelines
The Federal Inland Revenue Service (FIRS) has announced the postponement of the implementation guidelines for the value-added tax simplified compliance regime on the supply of low-value goods through digital means by non-resident suppliers.
In a statement, it said the postponement was to allow the Service to conclude the development of a seamless process for the effective and effcient process of the collection and remittance of the tax.
The Service said it shall continue to engage with stakeholders to ensure seamless and effective development and implementation of the Guidelines on goods supplied to Nigeria, through digital platforms, by non-resident suppliers in due course.
“The implementation of the Guidelines on the supply of services and intangibles by non-residents commenced on 1st January 2022 and is not acected by this notice. Consequently, all non-resident suppliers of services and intangibles should continue to comply with the provisions of the Guidelines concerning the collection and remittance of the tax as and when due.
“The implementation of the Guidelines on Simplified Compliance Regime on Value Added Tax (VAT) for non-resident suppliers of goods to Nigeria through digital platforms, scheduled to commence from 1st January 2024, has been postponed”, it added.
