Value Added Tax (VAT) Registration in Nigeria
This is a tax imposed on the supply of goods and services, under the Nigerian Tax law, VAT is fixed at 7.5% of the value of the taxable goods and services.
Section 8 of the Value Added Tax Law, which was amended by the Finance Act 2020, states that a taxable person shall upon commencement of business register with the FIRS (federal Inland Revenue Service) and failure to register within the specified period shall be liable to pay N50, 000 (Fifty Thousand Naira) for the first month and N25, 000 (Twenty Five Thousand Naira) for the subsequent months of default.
The requirements for the registration of a limited liability company includes;
- The Memorandum and Articles of Association of the company.
- Certificate of Incorporation, CAC2 and CAC 7A (Incorporation documents).
- Duly completed and stamped VAT registration form.
- Utility Bill.
- Application letter on Company’s Letterhead.
For Business Names the following documents are required:
- Business Name registration certificate.
- Duly completed and stamped VAT registration Form.
- Utility Bill.
- Application letter on Letterhead
Team 618 Bees
618 Bees can quickly and easily help you register for VAT and obtain your certificate. Log on to our website www.618bees.com or email hello@618bees.com, or give us a call on +2349017190079. 618 Bees will complete your application with the Federal Inland Revenue Service (FIRS).
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