Federal Inland Revenue Service (FIRS)
Form VAT 002 — Value Added Tax Return
Declare your monthly VAT collected and paid to the Federal Inland Revenue Service
- Form ID
- VAT 002
- Who must file
- All VAT-registered businesses (mandatory for taxable turnover of N25 million and above)
- Filing frequency
- Monthly
- Filing deadline
- 21st of the month following the month of transactions
Form VAT 002 is the monthly Value Added Tax Return filed with the Federal Inland Revenue Service. All VAT-registered businesses must declare VAT collected (output tax) and VAT paid on purchases (input tax) to calculate their net VAT liability. The VAT rate in Nigeria is 7.5%.
Late filing attracts a penalty of N50,000 for the first month and N25,000 for each subsequent month. Returns are filed via the TaxPro Max portal at taxpromax.firs.gov.ng.
Learn more about how HeadOffice can help you manage your Nigerian business finances and stay on top of your VAT obligations.