Connect with us

Hi, what are you looking for?

InfoTech

Nigerians To Pay 7.5% VAT On Facebook Ads From January 1

Facebook
FACEBOOK, INSTAGRAM, WHATSAPP ALL DOWN IN MAJOR OUTAGE

Social media giant, Facebook has announced that Nigerians will pay 7.5 percent value-added tax (VAT) on all ad placements from January 1, 2022.

The charge will also apply to those buying ads for businesses or personal purposes. Those exempted from VAT would be able to recover the fund if they provided their tax ID.

The new 7.5 percent VAT charge will also apply to Instagram ads. The statement read;

 “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 the VAT, this may help you recover any VAT you paid to the Nigerian tax authorities if you are a VAT registered business in Nigeria.”

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

BREAKING NEWS

In the bustling streets of Lagos, where the cacophony of horns and the endless flow of vehicles are the norm, a recent incident sent...

BREAKING NEWS

Allegations of financial impropriety have once again rocked the public sphere, with accusations of fraudulent activity involving the former Chairman of the Federal Inland...

BREAKING NEWS

In a surprising turn of events, the Supreme Court has made a groundbreaking statement, asserting that a fire outbreak will not have any bearing...

News

In a recent and alarming development, President Bola Tinubu has issued a directive to security agencies to take swift action in rescuing the remaining...