12/11/2025
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If your business does not fall under the ones I just listed, then get ready to charge an extra 7.5% from the client for VAT, then remit to the government as at when due.
LIST OF BUSINESSES/PRODUCTS THAT ARE VAT EXEMPTED.
This means that you will not be paying Value added tax, if you deal on these products or services.
PRODUCTS THAT ARE EXEMPTED FROM VAT
- Basic food items like pap, rice etc
- Locally manufactured Sanitary items like pad
- petroleum products like fuel & kerosene
- Agricultural equipment & products like seedlings, animal feed, fertilizer etc
- Educational materials like books, stationeries.
- baby products like diapers and baby foods.
SERVICES THAT ARE EXEMPTED FROM VAT:
-Spa & Gym services
-Medical services
-Educational services like school fees
-Financial services by microfinance banks etc
-Transportation (Both air and road)
There are more, and I can’t list them…so please 👇
For further info, you can visit the FIRS official site.
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