VAT
This page shows you how to apply VAT at Nigeria’s 7.5% rate and produce your VAT Return.
Set up VAT on sales
Section titled “Set up VAT on sales”Nigeria Compliance includes a ready-made VAT 7.5% (Nigeria) account. Add it to a sales tax template so it’s applied automatically:
- Go to Accounting → Sales Taxes and Charges Template → New.
- Add a row: Account = VAT 7.5% (Nigeria), Rate =
7.5, Type = On Net Total. - Name it “Nigeria VAT 7.5%” and set it as the default for your Nigerian customers.
From then on, sales invoices to those customers carry 7.5% VAT automatically.
Your VAT Return
Section titled “Your VAT Return”Go to Reports → Nigeria VAT Return and filter by company and date range. It shows:
- Output VAT — VAT you collected on sales invoices (with the customer’s TIN for B2B).
- Input VAT — VAT you paid on purchases (claimable if you’re VAT-registered).
- VAT Payable — output minus input, which you remit to the NRS by the 21st of the following month.
Export it for filing — see Compliance reports.