All advertisers with a business country of Nigeria will, from January 2022, pay an additional 7.5% VAT on advertising services on Facebook.
Platforms Africa reports that Facebook made the announcement in a notice on Saturday morning Nigerian tine, stating that the commencement of the new VAT regime is in line with the Nigerian Government’s policy.
The notice read: “Due to implementation of a value-added tax (VAT) in Nigeria, 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.
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“All advertisers with a business country of Nigeria will be charged an additional 7.5% VAT on advertising services purchased beginning 1, January 2022,” the notice obtained by Platforms Africa read.
Explaining the implementation procedure, the company, which newly announced name-change to Meta, said; “If you’re registered for VAT and provide your VAT ID, your VAT ID will show up on your ads receipts.
“In the event that you’re entitled to recover VAT, this may help you recover any VAT you paid to the Nigerian tax authorities if you are a VAT registered business in Nigeria.”
