12 June 2019
The chairman of the Federal Inland Revenue Service (FIRS) confirmed the introduction of a 5% withholding value added tax on all e-commerce goods and service transactions.
The chairman did not give an official date for its introduction but did state that when introduced, it would be charged and collected via banks and credit card companies in the country; this is instead of suppliers. It would also apply to both resident and non-resident providers of these types of goods and services.
It is thought that this tax would be levied when the sale is made from the online marketplaces (such as Amazon, eBay, Facebook and Instagram, for example).
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