Who Must File VAT You must file VAT if: You run a registered business (individual or company) You sell goods/services subject to VAT (7.5%) Even if: 👉 You made no sales, you must still file “NIL return” 2. What You Should Do Right Now (2024 & 2025 Backlog) Since you haven’t filed: 👉 You likely hRead more
Who Must File VAT
You must file VAT if:
You run a registered business (individual or company)
You sell goods/services subject to VAT (7.5%)
Even if: 👉 You made no sales, you must still file “NIL return”
2. What You Should Do Right Now (2024 & 2025 Backlog)
Since you haven’t filed:
👉 You likely have outstanding monthly VAT returns
For example:
2024 → 12 months
2025 → Jan till now
3. Step-by-Step: How to File VAT in Nigeria
You file through the tax authority:
👉 Federal Inland Revenue Service
Step 1: Get Your TIN
You need:
Tax Identification Number (TIN)
If you don’t have one:
Register via FIRS or CAC
Step 2: Access the Filing Portal
Use: 👉 TaxPro Max
This is the official system for VAT filing.
Step 3: Prepare Your Records
For each month, calculate:
Output VAT (what you charged customers)
7.5% of your sales
Input VAT (what you paid on purchases)
VAT on expenses
VAT Payable:
👉 Output VAT – Input VAT
Step 4: File Monthly Returns
On TaxPro Max:
Select month (e.g., Jan 2024)
Enter:
Sales
VAT collected
VAT paid
Submit return
Step 5: Pay (If Applicable)
If VAT is payable:
Generate payment reference
Pay via bank or online
4. Penalties You May Face
Since you didn’t file on time:
Late Filing Penalty:
₦50,000 (first month)
₦25,000 for each additional month
Late Payment:
Interest + penalties
5. What If You Didn’t Do Any Business?
Very important:
👉 You STILL must file
Just file:
NIL VAT return
This avoids penalties.
6. Best Practical Approach (Since You’re a Beginner)
How Can I Avoid Double Taxation When Filing Business Income and Stock Investment Gains in Nigeria?
Who Must File VAT You must file VAT if: You run a registered business (individual or company) You sell goods/services subject to VAT (7.5%) Even if: 👉 You made no sales, you must still file “NIL return” 2. What You Should Do Right Now (2024 & 2025 Backlog) Since you haven’t filed: 👉 You likely hRead more
Who Must File VAT
You must file VAT if:
You run a registered business (individual or company)
You sell goods/services subject to VAT (7.5%)
Even if: 👉 You made no sales, you must still file “NIL return”
2. What You Should Do Right Now (2024 & 2025 Backlog)
Since you haven’t filed:
👉 You likely have outstanding monthly VAT returns
For example:
2024 → 12 months
2025 → Jan till now
3. Step-by-Step: How to File VAT in Nigeria
You file through the tax authority:
👉 Federal Inland Revenue Service
Step 1: Get Your TIN
You need:
Tax Identification Number (TIN)
If you don’t have one:
Register via FIRS or CAC
Step 2: Access the Filing Portal
Use: 👉 TaxPro Max
This is the official system for VAT filing.
Step 3: Prepare Your Records
For each month, calculate:
Output VAT (what you charged customers)
7.5% of your sales
Input VAT (what you paid on purchases)
VAT on expenses
VAT Payable:
👉 Output VAT – Input VAT
Step 4: File Monthly Returns
On TaxPro Max:
Select month (e.g., Jan 2024)
Enter:
Sales
VAT collected
VAT paid
Submit return
Step 5: Pay (If Applicable)
If VAT is payable:
Generate payment reference
Pay via bank or online
4. Penalties You May Face
Since you didn’t file on time:
Late Filing Penalty:
₦50,000 (first month)
₦25,000 for each additional month
Late Payment:
Interest + penalties
5. What If You Didn’t Do Any Business?
Very important:
👉 You STILL must file
Just file:
NIL VAT return
This avoids penalties.
6. Best Practical Approach (Since You’re a Beginner)
Don’t try to fix everything blindly.
Option A (Recommended)
👉 Meet a tax consultant/accountant
They will:
Compute your backlog
File correctly
Reduce errors/penalties
Option B (Do It Yourself – Carefully)
Start with:
2025 (current year)
Then go back to 2024
7. Simple Example
If in January:
Sales = ₦500,000
VAT (7.5%) = ₦37,500
Expenses VAT = ₦10,000
👉 Pay: ₦37,500 – ₦10,000 = ₦27,500
8. Critical Advice (Don’t Ignore This)
Don’t guess figures
Don’t skip months
Don’t ignore penalties (they accumulate)
👉 The earlier you regularize, the cheaper it is.
Bottom Line
VAT is monthly, not yearly
You likely have multiple unfiled months
Use TaxPro Max to file
Consider a professional to clean it up
See less