Facebook on Thursday reported in an explanation that Nigerians will pay 7.5 percent Value Added Tax (VAT) for an advert from January 1, 2022.
The charge will apply to adverts running on Facebook for business or individual purposes.
As indicated by the assertion, “Because of execution of a value-added tax (VAT) in Nigeria, Facebook is needed to charge VAT on the offer of promotions to publicists, whether or not you’re purchasing advertisements for business or individual purposes.
All sponsors with a business name in Nigeria will be charged an extra 7.5% VAT on publicizing administrations bought starting 1 January 2022.
“On the off chance that you’re enlisted for VAT and give your VAT ID, your VAT ID will appear on your promotions receipts.
“If you’re qualified for recuperating the VAT, this might assist you with recuperating any VAT you paid to the Nigerian duty specialists assuming you are a VAT enrolled business in Nigeria.”
Facebook which as of late changed its name to META is the parent organization of WhatsApp, Instagram, Facebook Messenger, and Facebook