Nigerians to start paying tax for using Facebook from January


Nigerians will start paying value added tax (VAT) for using Facebook, beginning from 1st of January 2022.

The tax is directly to Nigerians who use the platform as a means to market or sell their products.

Already, Facebook has started informing users on the platform of the development via email. With the development, Nigerians will now pay a VAT at the applicable rate of 7.5 percent.

The email reads: “Due to implementation of a value-added tax (VAT) in Nigeria, Facebook is required to charge VAT on the sale of ads to advertisers, regardless of whether you’re buying ads for business or personal purposes.

“All advertisers with a business country of Nigeria will be charged an additional 7.5% VAT on advertising services purchased beginning 1 January 2022.

“If you’re registered for VAT and provide your VAT ID, your VAT ID will show up on your ads receipts. In the event that you’re entitled to recover VAT, this may help you recover any VAT you paid to the Nigerian tax authorities if you are a VAT registered business in Nigeria”.

TBE reports the new tax regime is in pursuant of the Companies Income Tax (Significant Economic Presence) Order, introduced in 2020 as an amendment of the Finance Act 2019.

The document imposes tax on any “foreign entity with respect to certain services or digital transactions tax foreign digital service providers offering services to Nigerians and earning revenue in naira.

Meanwhile, the federal government has in recent times gone hard on social media platforms, especially Twitter.

The Nigerian government slammed an indefinite suspension on the operations of the microblogging platform in the country, citing activities capable of undermining the nation’s corporate existence.

Another one

Zombie---- Yes o darling daddy must teach Facebook how to respect our plisident like he did to Twitter which we suffer


Same zombie below after knowing he would have to pay tax for Facebook to fund Boko Haram

Ibo

Change! Next level

I've never seen a govt hell bent on impoverishing it's citizens by all means until this junta strolled along in 2015

PrinceOfLagos:
Another one

Comr abeg leave ndi one nigeria alone. Im happy for baba bubu and his govt, every blessed day, i dey joli bcs of one thing.
15million useless zombies voted for a man without any humanity in him

The news is for those who use "Facebook"..

They have come again