Tuesday, May 28, 2024
HomeNewsFrom Jan. 1 2022 Facebook Advertisers Will Be Charged 7.5% VAT

From Jan. 1 2022 Facebook Advertisers Will Be Charged 7.5% VAT

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.”

 

Also read:  ARM Awards N12M in DAAYTA, as DAAYTA 2024 Celebrates Women-Led Innovation

“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.

admin | Abbey Oyetunji
admin | Abbey Oyetunji
Abbey Oyetunji is a Business Growth Strategist. An IT Mogul & Web Developer. Reach via mail: [email protected]
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments

admin | Abbey Oyetunji on How To Get The BIG Money Clients
adebayo on Contact us