What You Should Know About VAT

Two months ago, the Federal Government announced the exemption of 63 items from Value Added Tax (VAT) as part of fiscal reforms directed at reducing the cost of food. While VAT is something Nigerians encounter daily, many still don’t fully understand what it is, how it works, or why it matters.In today’s episode of Nigeria Daily, we break down the concept of VAT, explain how it applies in Nigeria, and explore the significance of the new exemptions. Join us as we simplify this often misun...