Nigeria introduces stricter VAT rules for Netflix, Spotify and other foreign digital companies

Nigeria introduces stricter VAT rules for digital services, foreign suppliers

•Streaming, cloud service, others attract VAT•Consumers of services granted withholding obligations The new comprehensive value-added tax (VAT) reform will significantly impact digital services and cross-border transactions as it requires foreign companies supplying services to Nigeria to include VAT in their invoices. Under the newly enacted Nigeria Tax Act, all non-resident persons making taxable supplies to … The post Nigeria introduces stric…

Nigeria introduces stricter VAT rules for Netflix, Spotify and other foreign digital companies

Nigeria is tightening its tax regulations, imposing stricter Value Added Tax (VAT) rules on digital services. This applies to foreign suppliers, such as streaming platforms, e-commerce platforms and cloud service providers. These changes are intended to boost revenue and level the playing field for local businesses. The country’s digital economy is flourishing. Streaming services like Netflix, cloud platforms like AWS, and e-commerce companies a…