VAT news tagged as "Luxury goods"

Nigeria

Nigeria 15% Luxury VAT

April 9th, 2017

Nigeria has proposed the introduction of new luxury goods VAT rate of 15%.  The standard VAT rate is 5%.  If approved, the new rate would be implemented from 2018. Goods targeted will include champagne and yachts. Nigeria’s budget deficit has suffered in the past three years with the decline in oil prices.