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Nigeria Rules Out Value-Added Tax Rate Hike

by Lorys Charalambous, Tax-News.com, Cyprus

09 December 2016


A Nigerian government spokesperson has confirmed that the nation is not planning to increase its value-added tax rate or impose new taxes to increase tax revenue.

Although Nigeria levies one of the lowest VAT rates in the world, the Government does not intend to double the headline rate from five percent to 10 percent, as had been suggested last year.

Instead the Government is to concentrate on significantly improving tax compliance rates and extending the scope of VAT, corporate tax, and personal income tax. According to the spokesperson, Nigeria is in particular seeking to expand the number of taxpayers registered to pay tax.

TAGS: compliance | VAT rates | tax | value added tax (VAT) | tax compliance | Niger | Nigeria

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