Facebook on Thursday announced in a statement that Nigerians will pay 7.5 per cent value-added tax (VAT) for advert placements ad from January 1, 2022.
The charge will apply to adverts running on Facebook for business or personal purposes.
According to the statement, “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.
“All advertisers with a business country of Nigeria will be charged an additional 7.5% VAT on advertising services purchased beginning 1 January 2022
“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 the VAT, this may help you recover any VAT you paid to the Nigerian tax authorities if you are a VAT registered business in Nigeria.”
Facebook which recently changed its name to META is the parent company of WhatsApp, Instagram, Facebook Messenger, and Facebook.
The new 7.5 per cent VAT charge will also apply to adverts on Instagram