VAT In Nigeria Is Very Low, EU/ECOWAS Reveals

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The European Union and Economic Community of West African States’ delegation to Nigeria have said that the Value Added Tax system in Nigeria is below the ideal.

The Head of Cooperation of the Delegation of the EU and ECOWAS to Nigeria, Massimo De Luca, said this on Monday at the 4th session of the Steering Committee of the Support Programme for Fiscal Transition in West Africa held in Abuja.

De Luca blamed the low compliance with VAT in Nigeria on corruption and poor implementation.

He noted that while some companies may be willing to pay their taxes, the current taxation system in the country does not allow them to do so.

Earlier, the Chairman of the Federal Inland Revenue Service, Zacch Adedeji, said that the agency would make the taxation system in the country customer-centric so that, individuals and businesses could pay taxes easily.

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