With the introduction of sweeping changes to the provisions of existing tax laws in Nigeria by the Finance Act 2019 (the Act), it has become necessary for the Federal Inland Revenue Service (the FIRS or the Service) to revise and update its previous circulars, notices, and other publications, to bring them in line with the provisions of the Finance Act.
By the circular dated 29th April 2020 (the Circular), the FIRS provided guidance to all stakeholders on the implementation of the relevant provisions of the Value Added Tax (VAT Act) Act that was amended by the Finance Act.
