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).
LATEST NEWS
Italy confirms bank guarantee requirements for VAT...
The Italian Revenue recently published specific information regarding non-EU companies engaging in intra-EU trade of goods to and from Italy. Businesses...
SEE MORE
LATEST NEWS
Germany coalition government to reintroduce 7% reduced...
The German government has confirmed the reinstatement of the 7% reduced VAT rate for food sales by hospitality businesses, from 1 January 2026. This VAT rate...
SEE MORE
LATEST NEWS
Sri Lanka to apply VAT on B2C e-services from...
The Inland Revenue Department of Sri Lanka confirmed it will introduce VAT on digital services supplied by non-resident providers to Sri Lankan...
SEE MORE