About the Law
This piece of legislation amends the Value Added Tax Act.
Some key provisions include:
- Certain exempted goods and services are to be taxed at zero rate
- Provides for the distribution of revenue: Federal – 15%, State – 50%, Local Government – 35%
You can read the full provisions of the Law here – Value Added Tax Amendment Act 2007
Thank you for reading this article, we hope you have found it useful. If you have please share with your network using one of the share buttons below.
DO YOU NEED A LAWYER?
We hope you have found this information helpful. Please note that this information is provided for general informational purposes only and is not intended to be legal advice. No lawyer-client relationship is formed nor should any such relationship be implied. It is not intended to substitute for the advice of a qualified lawyer. If you require legal advice, please consult with a qualified lawyer.