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Three months of VAT, the 2026 recovery windfall, and an e-invoicing plan

The capstone project for VAT & the New E-Invoicing Regime (Nigeria 2026) — a free Finance course. Pass it and you earn a certificate anyone can verify.

Start the course free Download the project workbook

The project unlocks once you complete the lessons. The workbook is free to download now so you can see exactly what is expected.

What you will submit

A shared Google Sheet or Doc link containing: (1) three monthly VAT computations with itemised input VAT and a clear net position; (2) a side-by-side old-rules versus 2026-rules comparison quantifying the recovery windfall for the quarter with an explanation for the MD; (3) a worked exempt-versus-zero-rated illustration including the apportionment method; (4) a completed January return layout with deadlines, portal and the filing-versus-paying extension point; (5) an e-invoicing phase determination, a six-action readiness plan and a sample compliant invoice with mixed-rate lines; and (6) a monthly controls and reconciliation list.

What to do, step by step

  1. Use this company: 'Sahel Trading Ltd', a VAT-registered Nigerian company with turnover of about ₦1,400,000,000 a year, selling a mixture of standard-rated household goods and zero-rated basic food items. Assume all supplies are either standard-rated or zero-rated unless an instruction says otherwise.
  2. PART 1 — Three monthly VAT computations. Compute the net VAT payable or repayable for each of three months. JANUARY: standard-rated sales ₦96,000,000; zero-rated sales ₦24,000,000; purchases of goods for resale ₦52,000,000 (VATable); professional and audit services ₦4,000,000; no asset purchases. FEBRUARY: standard-rated sales ₦88,000,000; zero-rated sales ₦31,000,000; purchases of goods for resale ₦46,000,000; services ₦3,200,000; and the purchase of two delivery trucks for ₦38,000,000 in total. MARCH: standard-rated sales ₦72,000,000; zero-rated sales ₦45,000,000; purchases of goods for resale ₦40,000,000; services ₦2,800,000; warehouse racking and equipment ₦18,000,000. For each month show output VAT, input VAT itemised by category, and the net position — stating clearly whether the company pays or is in credit.
  3. PART 2 — Quantify the 2026 change. For each of the three months, recompute the net VAT position as it WOULD have been under the pre-2026 restrictions, where input VAT on services and on fixed assets was not recoverable. Present the two sets of figures side by side, state the difference for each month and the total across the quarter, and write 100–150 words explaining to the managing director exactly where the saving comes from.
  4. PART 3 — Exempt versus zero-rated. Sahel Trading is considering adding a product line that would be EXEMPT rather than zero-rated. Explain, with a worked illustration using a month of your own construction, how that would change the company's input VAT recovery, and set out the apportionment method it would have to adopt. State clearly why two products that both carry no VAT for the customer can have very different consequences for the company.
  5. PART 4 — The return and the calendar. For the January figures, set out the return as it would be completed: the header details required, supplies split between standard-rated, zero-rated and exempt, input VAT claimed, and the net position. State the exact filing and payment deadline for each of the three months, the portal used, and what the company must do differently if the Service grants it an extension of time to file.
  6. PART 5 — E-invoicing readiness. Given Sahel Trading's turnover, state which phase of the e-invoicing rollout it falls into and by when it must comply. Then write a readiness plan of at least six concrete actions covering invoicing software and sequencing, customer and supplier Tax ID master data, mapping products to VAT treatments, the transmission route, testing, and who owns each action. Design a sample compliant invoice for the company showing every field the system requires, including a zero-rated and a standard-rated line on the same document.
  7. PART 6 — Controls. List the monthly reconciliations you would build into Sahel Trading's close, and explain in two or three sentences why reconciling the annual audited revenue to the twelve VAT returns matters before an audit rather than during one.
  8. Put everything in one shared Google Sheet or Google Doc, set link sharing to 'anyone with the link can view', and submit the link.

Files to work with

Project workbook (fill in, then submit)The whole brief, an evidence checklist, the grading rubric as a self-check and the link-sharing steps in one file. Opens in Word, Google Docs or WPS.Word · 8 KB

How it is graded

CriterionWeight
The three monthly VAT computations are arithmetically correct — output VAT charged only on standard-rated sales, input VAT itemised by category, and the net payable or credit position correctly stated for each month22%
The old-rules comparison correctly blocks input VAT on services and fixed assets, quantifies the difference month by month and for the quarter, and explains the source of the saving clearly to a non-specialist20%
The exempt-versus-zero-rated analysis is correct and genuinely explanatory — showing that exempt supplies block input recovery while zero-rated supplies preserve it, with a sound apportionment method proposed20%
The return layout, deadlines (21st of the following month), portal (Rev360) and the point that an extension to file is NOT an extension to pay are all stated accurately13%
The e-invoicing phase is correctly identified for a ₦1.4bn-turnover company with the right deadline, the readiness plan is concrete and owned, and the sample invoice carries Tax IDs, a unique sequential number, separate VAT and distinguishable zero-rated and standard-rated lines15%
The controls and reconciliation section is practical and complete, and the whole pack is organised, labelled and usable by a real finance team10%

You need 65% overall to pass. A failed submission comes back with feedback and can be revised and resubmitted.

Before you submit: make your link public

If your work lives in Google Drive or Google Docs, open Share → General access and change “Restricted” to “Anyone with the link” (Viewer). Then paste the link into a private browser window: if it opens without sign-in, you are ready. A private link cannot be graded — it is the single most common reason a good project fails.

Frequently asked questions

Do I have to finish VAT & the New E-Invoicing Regime (Nigeria 2026) before submitting the project?

Yes. The submission screen opens once every lesson in VAT & the New E-Invoicing Regime (Nigeria 2026) is marked complete. The lessons are where the methods, the Nigerian context and the worked examples the project depends on are taught.

How is the project graded?

An examiner scores each rubric criterion from 0 to 100 and weights them as shown on this page; you need 65% overall to pass. Most submissions are graded within minutes and you get written feedback on what was strong and what to improve.

Can I resubmit if I fail?

Yes. A failed project comes back with feedback; revise the weak parts and resubmit. A passed project is final — the certificate is issued and cannot be re-rolled.

What do I actually submit?

A write-up of what you did (under 5,000 characters) plus a public link to your work — a Google Drive folder, Google Doc, spreadsheet, GitHub repository or video. The link must open without sign-in; a private link cannot be graded. The free project workbook on this page walks you through all 8 steps.

Is the certificate real?

Yes. Passing this project issues a certificate with a unique verification code. Anyone — an employer, a client, a school — can open the verification page and see that the certificate is genuine and which project earned it.

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