FG, Market Association Collaborate To Collect VAT From 40 Million Traders

MATAN members will receive identity cards upon enumeration, as mandated by the Federal Inland Revenue Service (FIRS), to ensure compliance and accountability. FIRS and MATAN have collaborated to implement a unified systems technology for the collection and remittance of value-added tax (VAT) from traders in the informal sector. This partnership, known as the VAT direct initiative (VDI), aims to simplify VAT payment and remittance through a purpose-built digital platform.

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With over 40 million members across Nigeria, MATAN will use its digital platform to track members’ turnover and facilitate the collection and remittance of VAT to FIRS. The VDI program, utilizing technology, is a unique collaboration between FIRS and the marketplace, aiming to enhance VAT collection and curb illegal tax collection by unauthorized individuals. This initiative is expected to boost VAT revenue, providing additional funds for infrastructure, social services, and the welfare of the people at the national, state, and local levels.


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