Traders partner FIRS on informal VAT

The Market Traders Association of Nigeria (MATAN) in partnership with the Federal Inland Revenue Service (FIRS) is set to bolster the seamless collection of Value Added Tax (VAT) from the informal sector through a new scheme tagged VAT Direct Initiative (VDI).

The partnership was recently announced at a stakeholders’ conference held in Lagos between MATAN and the FIRS.

According to FIRS, the VAT Direct Initiative aimed at promoting VAT awareness and simplifying payment and remittance processes for market traders and the informal sector through a purpose-built digital platform.

The National President Importers Association of Nigeria (IMAN) Mr. Kingsley Chikezie said: “This programme is fashioned to move us to the I.T level where you don’t need to go anywhere interfacing human beings to pay your levy or tax.”