A company is required to register for VAT when it makes taxable supplies of:
AAny amount
B₦25 million or more in any 12 consecutive monthsCORRECT
C₦100 million
DOnly when audited
CITNIndirect Taxation
AI
Toaster Teacher
Why the answer is B, and why the others tempt you.
Finance Act 2019 set a ₦25m turnover registration threshold; below it, small businesses are not required to charge VAT.
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