Angola

Angola delays VAT launch to Jul 2019

October 8th, 2018

Angola has delayed the introduction of VAT until 1 July 2019. VAT was to be introduced on 1 January 2019, replacing the exiting consumption tax of 10%. The latter was a non-deductible tax charged throughout the production chain, resulting in a compounding of the tax levy and discouraging internal manufacturing development. The delay is due the …


Zambia

Zambia replaces VAT with Sales Tax 2019

September 30th, 2018

The Zambian government has announced in its 2019 Budget on 28 September a withdrawal of its Value Added Tax. Plans in the 2019 Budget include removing the 16% VAT, first introduced in 1995. It will be superseded with a Sales Tax, only chargeable to the consumer at the end of the supply chain. The earliest …


Nigeria

Nigerian VAT returns

September 13th, 2018

Nigeria requires that VAT returns are filed on a monthly basis on Form 002. They are due by the 21st of the month following the reporting period. Any VAT due should also be paid by this date. This should be done through a payment or transfer from an approved bank. Returns may be filed online …


Nigeria

Nigerian VAT rates and VAT compliance

September 13th, 2018

VAT rates in Nigeria The main VAT rate in Nigeria is . Only a limited number of supplies are nil-rated, meaning any VAT suffered may be recredited to the tax payer. The current rates are: Nigerian VAT compliance VAT invoices must include the following information: Name, address and tax identification number of the supplier Name, …


Nigeria

Nigerian VAT registration

September 13th, 2018

Businesses supplying taxable supplies must VAT register. This is a requirement for services, as well as goods, since there is no reverse charge provision. This requirement covers incorporated companies and individuals providing supplies on a habitual basis. There is no provision for VAT group registrations. A VAT registration with FIRS is carried out by completing …


Nigeria

Nigeria

September 13th, 2018

Nigeria introduced Value Added Tax in December 1993. The rules for compliance and returns are contained within the VAT Act 1993. VAT is administered by the Federal Inland Revenue Service (FIRS). Import VAT is administered and collected by the Customs Services. Should you register for Nigerian VAT? The following supplies require businesses to VAT register …


South Africa

South Africa bitcoin VAT exemption

August 10th, 2018

The South African Revenue Service, SARS, has issued draft legislation covering the direct and indirect taxation of digital currencies such as bitcoin. SARS is proposing to follow the European-model on indirect tax, and not make trades subject to VAT. Other countries which have followed this route include Japan, Singapore, and, latterly, Australia. SARS is considering treating cryptocurrencies …


Ghana

Ghana VAT rate restructured to 12.5% Aug 2018

August 6th, 2018

Ghana has split out the 2.5% National Health Levy from the combined current VAT rate. This means the new VAT rate will be 12.5% instead of the current consolidated 15%. VAT is charged on all taxable suppliers, as well as imports. The 2.5% National Health Levy will now be combined with the Education Trust Fund …


Ghana

Ghana abandons VAT rise

July 30th, 2018

Ghana has confirmed that it will not go ahead with the previously proposed VAT rise. It had been announced in February that it would rise from 15% to 17%. This includes a proposal to reintroduce VAT on financial services. The rate was last increased from 12.5% to the current 15% in  January 2014. Last year, the …