Facebook has announced that Nigerians will pay 7.5 per cent value-added tax (VAT) on all ad placements from January 1, 2022.
The social media giant in a statement issued to this website disclosed that 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.
A Meta Spokesperson told Afritechpost that the decision on the implementation of a value-added tax (VAT) in Nigeria, which is a law requiring all non-resident businesses that provide Electronically Supplied Services or Digital Services (including advertising services like those from Facebook),
“Facebook is required to charge VAT on the sale of ads to advertisers, regardless of whether you’re buying ads for business or personal purposes. All advertisers with a business country of Nigeria will be charged an additional 7.5% VAT on advertising services purchased beginning 1 January 2022.”A Meta Spokesperson told this website
Facebook (now META) is the parent company of Instagram, FB Messenger, and Facebook social media channels. the new 7.5 per cent VAT charge will also apply to Instagram ads.
