Nigeria Considering Increasing VAT Rate
Nigeria is considering increasing its value-added tax rate from 5 percent to 7.2 percent, according to a Sept. 11 post from KPMG. The process will involve “extensive consultations” with Nigerian industry and state and local governments before it is approved,…
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the post said, but could take effect before 2020. Nigeria’s current 5 percent VAT rate is the lowest in Africa, KPMG said.