Value Added Tax (VAT) is a consumption tax charged on most goods and services in Nigeria. If your business turnover exceeds ₦25 million annually, you're required to register for VAT and remit it to FIRS.
Key Points
- VAT rate in Nigeria is 7.5%
- Registration threshold: ₦25 million annual turnover
- VAT returns are filed monthly
- Late filing attracts penalties
How Erin Helps
Erin tracks your income against the VAT threshold in real time. You'll get an alert before you cross it — so you can prepare and register on time.