.FIRSNigeria set to implement new VAT filing procedures for suppliers, importers | TheCable
June 30, 2023 7:06 PMThe Federal Inland Revenue Service has provided updates on the implementation of the input value-added tax filing procedures via its administration solution, TaxPro-Max.
Input VAT is the value-added tax on the price paid for eligible goods or services. Firms that are VAT-registered can charge and add VAT to the value of goods and services they supply.on Friday, FIRS said “t WVAT is a method of collecting VAT where a portion of the VAT is collected by appointed withholding VAT agents from payments made to a local supplier of vatable goods and services schedule.
“The month following the month of transactions, in our example, using the month of June, will be July 1 to July 21 at midnight: file returns of month 1 transactions.
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