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Nigeria Unveils Automated VAT Charges for Lottery, Gambling

Nigeria

The Nigerian government announced a collections process last week that will automatically charge companies VAT on lottery and gambling activities, according to The Guardian Nigeria.

The Federal Inland Revenue Service and the National Regulatory Commission made the announcement and promised transparency throughout the process.

Operators are against the new system, and they believe further taxes on customers might dissuade them from betting. Operators are worried that it will impact their bottom line and are claiming customers will be driven into unregulated markets.

The new collections process also includes a new five percent VAT, and the regulators said the collection system will be used in all sectors.

Zurich Technologies designed the technology, and they made a presentation to regulators and companies on how the system will work. VAT bills will be conducted online by aggregating 21-day periods of transactions.

Zurich made the case that its system will increase transparency and allow the government to collect the tax more efficiently.

However, not everyone was pleased with the new system, but gambling operators will have to play by the new rules if they want to legally operate in Nigeria.

About the author

Alec Pronk

Alec Pronk

Alec Pronk is a huge sports fans and also enjoys all things politics. When he's not writing you can find him losing at chess to his friends.

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