#VAT

Nigeria's manufacturing sector reported a record remittance of N329.59 billion in Value Added Tax (VAT) for the first quarter of 2026, marking the highest quarterly contribution in four years, according to Punch.

Elle-Sarah Rossato, a partner and head of tax and dispute resolution at PwC South Africa, discusses the Constitutional Court's ruling that second-hand gold does not qualify for a zero rate under the VAT Act.

The Constitutional Court has ruled against the implementation of a zero VAT rate for second-hand gold, confirming that most second-hand gold will now be subject to the standard value-added tax rate of 15%. This decision effectively closes a longstanding loophole in the taxation of second-hand gold transactions.