Facebook has announced that from January 1, Nigerians will be required to pay 7.5 percent value-added tax (VAT) on all ad placements.
This is applicable to both those buying ads for businesses and those buying for personal purposes. The charge will also apply to Instagram ads.
A statement by the social media giant read;
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“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.”
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