FG has introduced a policy requiring foreign companies that provide digital services in the country to collect and remit Value Added Tax to the Federal Inland Revenue Service.
Minister of Finance, Budget and National Planning, Zainab Ahmed, said this on Wednesday during a public presentation of 2022 budget in Abuja.
Earlier in December 2021, Facebook, in a statement, disclosed that it will, from January 1, 2022, begin to charge VAT on the sale of advertisement to advertisers, regardless of whether they’re buying ads for business or personal purposes.
– Punch