The application of VAT standards via digital platforms is halted by FIRS

For services and intangibles supplied by non-resident suppliers, the current regulations are still in force.The implementation instructions for the streamlined compliance regime for Value Added Tax (VAT) on imported products acquired by Non-resident Suppliers (NRS) using digital platforms have been placed on hold by the Federal Inland Revenue Service (FIRS).In order to ensure that the tax is collected and remitted in an efficient manner and to allow for a more seamless transition for customers and online businesses, the deadline was postponed, as stated in a statement released by the service.“The implementation of the Guidelines on the supply of services and intangibles by non-residents commenced on January 1, 2022 and is not affected by this notice. Consequently, all non-resident suppliers of services and intangibles should continue to comply with the provisions of the Guidelines concerning the collection and remittance of the tax as and when due.” the statement added