Value Added Tax
ICAN Taxation

(a) Explain the meaning of "taxable person" and state four obligations of a taxable person under the Value Added Tax Act. (8 marks) (b) State the penalties for the following VAT offences: (i) failure …

VAT returns must be filed with the FIRS on or before the:

Which of the following is a zero-rated supply under the VAT Act?

A non-resident company supplying taxable goods to a Nigerian customer is required to:

Failure to file a VAT return attracts a penalty of:

(a) Distinguish between zero-rated supplies and exempt supplies under the Value Added Tax Act, giving two examples of each. (7 marks) (b) Bright Stores Limited, a registered taxable person, recorded t…

The current standard rate of value added tax in Nigeria is:

A business is required to register for VAT where its taxable supplies in a calendar year:

Which of the following supplies is exempt from VAT?

Input VAT that may be claimed against output VAT is that incurred on: