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Submitted by PARA on Friday, October 13, 2023
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  1. VAT is now file only on Tax Pro Max
  2. You should register your company with FIRS immediately after registering your company with CAC to avoid unnecessary sanctions.
  3. You should ensure that VAT charged on your behalf, the bearer remit it with your TIN for you to earn input VAT for your business. 
  4. You cannot file VAT of the current month and preceding months, when you have not filed VAT of previous month(s), once they are on.
  5. You can file your VAT from the 1st day to the 21st day of the preceding month’s sales activity with no NENALTY.
  6. The dateline for filing VAT of January is 21st of February, for February is 21st day of March and so on.
  7. Payment for VAT can only be made after filing and not before filing.
  8. Payment must be made the same day, as the Remita Retrieval Reference (RRR) number generated expires after that day.
  9. You don’t need to upload any payment evidence after payment, as the system recognizes it automatically.
  10. Every corporate business both “Business Name and Limited” are required enroll for VAT and file VAT but not all companies are required to charge VAT to their customer/client.
  11. Every big company who is not paying VAT to it vendor/supplier/service provider, must charge itself such VAT and remit same to FIRS for the goods bought or services enjoyed.
  12. Every return failed to file or filed late or filed but pay late attracts PENALTIES be it a NIL return or not.
  13. You must file and remit every “withholding VAT” in your custody within the time frame to avoid PENALTIES
  14. You can claim your input VAT at the point of filing VAT returns.
  15. We are working on more to tell you…

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