Tax, tax, tax everywhere!
Social media giant, Facebook has announced that Nigerians will pay 7.5 percent value-added tax (VAT) on all ad placements in 2022.
Payment of the new 7.5% VAT charges comes into effect on January 1, 2022.
Clearly, the charge will apply to those buying ads for businesses or personal purposes.
Facebook statement said those exempted from VAT can recover the fund if they provide their tax ID.
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It further revealed that the 7.5% VAT charge is applicable to Instagram ads.
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In Ghana also the government is seeking to introduce a similar tax dubbed E-levy to raise more revenue for the next fiscal year.
The 1.75% E-Levy will be imposed on all electronic transactions but it has been vehemently opposed by majority of the citizens.
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