The Federal Inland Revenue Service (FIRS) has postponed the commencement of a simplified compliance regime for Value Added Tax (VAT) on imported goods purchased through digital platforms.

Initially scheduled for January 1st, 2024, the new guidelines will now be rolled out at a later date, following further development and stakeholder consultations.

FIRS Executive Chairman, ZACCH ADEDEJI explained that this postponement is to allow the Service to conclude the development of a seamless process for the effective and efficient collection and remittance of the tax.