7.5% VAT on Stockbroking Transactions Commences February 1, 2020

Sequel to the implementation of the Finance Act 2019, kindly be informed that effective 1st February 2020, Value Added Tax (VAT) charged on commissions applicable to capital market transactions will increase from 5% to 7.5%.

These include commissions:
i. earned by Dealing Members on the traded value of shares; and
ii. payable to The Nigerian Stock Exchange (NSE) and the Central Securities Clearing System Plc. (CSCS).