DAILY LAW TIPS by Onyekachi Umah,Esq. (Tip 155) “Monthly Deadline For Filling Returns On Value Added Tax (VAT)”.

DAILY LAW TIPS
by Onyekachi Umah,Esq.
(Tip 155)
“Monthly Deadline For Filling Returns On Value Added Tax (VAT)”.

Value Added Tax (VAT) collected in a given month is to be remitted to Federal Inland Revenue Service (FIRS) on or before the 21st of the next month. Hence, all VAT Collection Agents must file their VAT Returns within that period to avoid penalty.

My authority is section 15 of the Value Added Tax Act.

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