[BREAKING] Nigerians To Start Paying Tax For Running Ads On Facebook From January

Facebook says Nigerians will pay 7.5 percent value-added tax (VAT) on all ad placements from January 1, 2022.

Nigerians will start paying value-added tax (VAT) on all ad placement on Facebook, beginning from the 1st of January 2022.

With the development, Nigerians will now pay a VAT at the applicable rate of 7.5 percent.

The social media giant said this in a statement issued on Thursday.

“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”.