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Friday, July 1, 2022

SOCIAL MEDIA TAX: TELECOM EXPERTS COMMEND FG’S DECISION

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Experts in the telecommunication industry says the move by the Federal Government to tax social media companies is right because the companies generate commercial revenues from the nation.
According to Meta, 7.5 per cent value-added tax will be applied on sales of ads to advertisers from January 2022, and this applies to all non-resident businesses that provide digital service in the nation.
The company said, starting in the New Year, Nigeria will implement a new value-added tax.

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