Facebook has announced that as from January 1, 2022, Nigerians will pay 7.5% value-added tax (VAT) on all advertisement (ads) placements on its platform.
In a statement issued on Thursday, the social media giant discloses that the fees will apply to those buying ads for businesses or personal use in alignment with the implementation of a value-added tax in Nigeria.
It however noted that everyone exempted from VAT would have access to gain back their fund only if their tax ID is provided.
The new 7.5% VAT charge also applies to Instagram ads.
Facebook – META, remains the parent company of Instagram, FB Messenger, and Facebook social media channels.
