Upon being granted a VAT registration, a unique 10-digit VAT identification number is provided to the tax payer to use on invoices or when submitting VAT returns. Non-resident traders must also register with the FIRS if providing taxable supplies – note this includes services since there is no reverse charge.
What is Nigeria VAT?
VAT rates in Nigeria
The main VAT rate in Nigeria is 7.5% (raised from 5% on 1st Feburary 2020). Only a limited number of supplies are nil-rated, meaning any VAT suffered may be recredited to the tax payer.
How do I get a VAT number in Nigeria?
To apply for VAT, you will need to go to the Federal Inland Revenue Service (FIRS) office that is closest to your registered address. You can find the locations on the FIRS website with the following documents: Memorandum & Articles of Association. Certificate of Incorporation: CAC2, CAC7.
How do I find my VAT number?
Checking a VAT number is valid
HMRC has a complete database of VAT-registered businesses, so if you’re in any doubt about a registration number you should call their VAT helpline on 0300 200 3700.
Is VAT number same as tin number?
Tax Identification Number (TIN) is now one of the requirements for opening business bank account. You will also be issued a permanent VAT registration number and this qualifies you to become a VAT agent. Your Tax Identification Number (TIN) and VAT registration number have to be displayed on all your invoices.
What is the current VAT rate in Nigeria 2020?
The rate of value added tax (VAT) in Nigeria increased from 5% to 7.5%. The Finance Act, 2019, signed by the president and effective on 13 January 2020, included the VAT rate change.
Is VAT recoverable in Nigeria?
In Nigeria, VAT is not recoverable on services, and goods that don’t go directly into your production or goods bought for re-sale. … It cannot reclaim VAT it paid on transportation, computer, rent etc. Such costs are capitalized with the asset or expensed if it is a revenue item (i.e. added to the cost).
How do I get a VAT number online?
Follow these easy steps:
- Logon to www.sarsefiling.co.za.
- Go to the Organizations main menu.
- Click SARS Registered details on the side menu.
- Select Notice of Registration.
- Select VAT. Table of Contents. Follow the easy steps below to register for VAT on eFiling:
How does VAT number look like?
A UK VAT number is nine (9) digits long, with two letters at the front indicating the country code of the registered business. For example, for Great Britain (UK), the first two digits of the VAT code are GB. … CY – Cyprus – 9 characters – last character always a letter. CZ – Czech Republic – 8, 9 or 10 characters.
How can I get my tax identification number online in Nigeria?
Individuals can apply on the JTB website with NIN or BVN (Bank Verification Number) or visit your nearest Federal Inland Revenue Service (FIRS) with Utility Bill, Valid ID (Government Approved) and a Passport Photograph. You can check online to see if you have an existing TIN by clicking here.
Does everyone have a VAT number?
No, they are not. Some traders are not registered for VAT because their businesses have a low turnover (sales) and so they cannot charge VAT on their sales (unless they are voluntarily registered)– and some business activities do not attract VAT.
Do I need a VAT number?
In the UK, you need to register your business for Value Added Tax (VAT) if your VAT taxable turnover exceeds £85,000. Once you’ve registered, HMRC will send you a VAT registration certificate, confirming: your VAT number.
How many digits is a VAT number?
To check that a UK VAT number is valid you should first check that it is 9 digits long. (This does not include the GB which is sometimes stated at the beginning). The first 7 digits are random numbers and the last 2 digits are based on a formula using the first 7 numbers.
What means VAT number?
A value added tax identification number or VAT identification number (VATIN) is an identifier used in many countries, including the countries of the European Union, for value added tax purposes. … The identifiers are composed of numeric digits in most countries, but in some countries they may contain letters.
Do I need a VAT number to buy from Europe?
Each country within the EU has their own rules around VAT, but generally speaking, you will need to be registered with a VAT number and may need to register with more than one country, depending on where you make sales and where your goods are stored.
Is VAT number the same as TIN number in Nigeria?
Nigeria: FIRS Mandates Taxpayers To Obtain VAT Registration Certificates And Display At Their Premises. … While taxpayers obtain tax identification number (TIN) upon registration with Corporate Affairs Commission (CAC), they are required to validate their registration with FIRS, for VAT filing purposes.