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Nigeria Tax Information

7.5% VAT

VAT is 7.5%. Registration required above NGN 25 million turnover. TIN required.

Financial Advisor Services to Invoice

  • Financial planning
  • Investment advisory
  • Retirement planning
  • Tax planning
  • Estate planning
  • Insurance review
  • Wealth management

Invoice Requirements in Nigeria

TIN
VAT registration
Client TIN
VAT (7.5%)
Total in NGN

Payment Terms

Fee-only: project-based or AUM percentage. Flat retainer for ongoing planning.

CashNet 14Net 30Net 45

Payment Methods in Nigeria

Bank TransferUSSDMobile MoneyCardCash

Financial Advisor Invoice Tips

  • Include advisor registration
  • Reference advisory agreement
  • Note AUM if applicable
  • Document planning deliverables
  • Meet compliance requirements

Frequently Asked Questions

What tax rate applies to financial advisor invoices in Nigeria?

Nigeria has 7.5% VAT. VAT is 7.5%. Registration required above NGN 25 million turnover. TIN required.

What payment methods are common for financial advisors in Nigeria?

Common payment methods in Nigeria include: Bank Transfer, USSD, Mobile Money, Card, Cash. Fee-only: project-based or AUM percentage. Flat retainer for ongoing planning.

What should financial advisor invoices include in Nigeria?

Your invoice should include: TIN, VAT registration, Client TIN, VAT (7.5%). For financial advisor services specifically, also include: Financial planning, Investment advisory, Retirement planning.

How should financial advisors structure fees?

AUM percentage (0.5-1.5%), flat retainer, hourly, or project-based. Disclose fee structure clearly.

What compliance info should be on invoices?

Advisor registration (CFP, RIA), firm info, and fee disclosure language as required.

What is Nigeria's VAT rate?

7.5% on most goods and services. Basic food, medical, educational items are exempt.