Following the announcement of a new finance bill that compels social media paying tax in Nigeria, Facebook has announced that Nigerian advertisers from January 1st 2022 will be charged 7.5 percent value-added tax for using Facebook and Instagram advert services. The social media giant said this in a statement issued on Thursday, 9 December 2021.
According to Facebook, the charge will apply to those buying ads for businesses or personal purposes.
“Due to the implementation of new value-added tax (VAT) in Nigeria, Facebook is required to charge VAT on the sale of ads to advertisers, regardless of whether you are buying ads for business or personal purposes.”
“Beginning January 1, 2022, all advertisers operating a business in Nigeria will be charged 7.5 percent VAT.”
Facebook also in the post added that people who are free from VAT would be able to reclaim the funds if they give their tax ID.