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Facebook bows to VAT law in Nigeria, charges 7.5 percent on ad placements
Starting from January, Nigerians will pay 7.5 percent value-added tax (VAT) on all ad placements on Facebook—now Meta.
The charge will apply to those buying ads for businesses or personal purposes in compliance with the implementation of a value-added tax (VAT) in Nigeria.
The social media platform disclose this in a statement on Thursday.
All those exempted from VAT would be able to recover the fund if they provided their tax ID.
“If you’re registered for VAT and provide your VAT ID, your VAT ID will show up on your ads receipts,” it added.
“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.”
The new 7.5 percent VAT charge will also apply to Instagram which Meta owns.
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