Meta, the parent company of Facebook, says Nigerian customers should update their value-added tax (VAT) identification numbers by February 25.
The social media giant said this in a statement issued on Thursday.
The company said it made recent updates to allow some Nigerian customers to provide 11 or 12 digit VAT identification (ID) to pay the 7.5 percent charge.
It also added that those who already have their VAT ID can easily use receipts for other paid taxes.
An update has been made so that our system will now accept both 11- and 12-digit VAT IDs. If you want your VAT ID to show up on your ads receipts, please take the following steps below to update your VAT ID,” the statement reads.
“In addition, if you have previously provided a VAT ID that is not 11 or 12 digits, please update it by 25 February 2022. All VAT IDs that do not comply with this format requirement will be removed after this day.
“If you are registered for VAT and provide your VAT ID, it 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.”
“Go to payment settings, click “edit” business info, scroll down to the field labelled. “VAT ID” and add your VAT ID,” the company said.
Last year, Facebook had announced all advertisers from Nigeria would pay an additional 7.5% VAT on ad placement from January1,2022.
– The Cable