FIRS APPOINTS TELCOS AND DEPOSIT MONEY BANKS AS AGENTS FOR THE PURPOSES OF VAT COLLECTION

By a Public Notice titled ‘Value Added Tax Act (CAP V1, LFN 2004) (as amended): Appointment of Certain Companies to Withhold VAT’, the Federal Inland Revenue Service (FIRS) informed the public of the appointment of MTN, Airtel, All Money Deposit Banks (As Defined by the CBN Guidelines) (Appointees) as agents to withhold Value Added Tax (VAT) charged on all taxable supplies made to them effective 1st January 2023.

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