Department Of Commercial & Industrial Law

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Browsing Department Of Commercial & Industrial Law by Subject "current law and practice of value added tax in nigeria"

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    Open Access
    Current Law and Practice of Value Added Tax in Nigeria
    (British Journal Publishing, Inc. 2012, 2012) SANNI, A.O
    The Value Added Tax (VAT) was introduced in Nigeria in 1993 by the Federal Military Government. Since then, the Value Added Tax Decree, had been amended more than half a dozen times the latest being the Value Added Tax (Amendment) Act of 2007. Some of the amendments have introduced significant changes which are yet to be reflected in the body of existing literature. This article discusses the thrust and evolutionary path of the changes to the legal and administrative framework of VAT and assesses the direction of development. The aim is to succinctly discuss the current position of the VAT law and administration in Nigeria in a coherent form for the proper guidance of taxpayers, researchers and foreign investors.