Which is VAT-EXEMPT in Nigeria?
ABread only
BBasic food items, medical/pharmaceutical services, education, books, baby productsCORRECT
CRestaurant meals
DAirtime
CITNIndirect Taxation
AI
Toaster Teacher
Why the answer is B, and why the others tempt you.
The VAT Act's First Schedule exempts basic foodstuffs, medical, education, books and some farm produce.
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