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ARTICLE · 22 OCTOBER 2021

Federal Government Issues VAT (Modification) Order, 2021

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The Federal Government of Nigeria (FGN) has published the Value Added Tax (Modification) Order, 2021 ("the 2021 Order") in its Official Gazette No. 167, Vol.108 of 21 September 2021.

NigeriaTax
Wole Obayomi
Wole Obayomi

The Federal Government of Nigeria (FGN) has published the Value Added Tax (Modification) Order, 2021 ("the 2021 Order") in its Official Gazette No. 167, Vol.108 of 21 September 2021. The 2021 Order, which has a commencement date of 30 July 2021, was issued by the Honourable Minister of Finance, Budget and National Planning (HMoFBNP), Mrs. Zainab Shamsuna Ahmed, pursuant to her powers under Section 38 of the Value Added Tax (VAT) Act, Cap. V1, Laws of the Federation of Nigeria, 2004 (as amended).

The 2021 Order, which replaces the erstwhile VAT (Modification) Order 2020, modifies the First Schedule to the VAT Act by expanding the list of exempt goods and services and updating the definition of some terms to ensure consistency with the amendments introduced to the VAT Act by the Finance Act, 2020.

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