FROM January 1, 2022, all advertisers with a business country of Nigeria will pay an additional 7.5% VAT on advertising services on Facebook, as the firm announces the commencement of the new VAT regime in line with the Federal Government of Nigeria’s policy.
Facebook, in a notice obtained by SlyeNews said: “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,” it stated
It gave further details: “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.”