Popular video social media app, Zoom has said it would begin to tax Nigerians 7.5% following the country’s new tax policy from the 1st of January 2022.
The Big Picture.
Nigeria’s tax policy has included the taxing of foreign companies who earn from Nigeria’s populace. These companies include Zoom, Facebook, Google, etc.
Zoom’s announcement is coming just days after Facebook released a statement saying Nigerians would start paying 7.5% on all advert placement.
The statement by Zoom reads, “For customers with a sold to address in Nigeria, Zoom will begin applying VAT to invoices and remitting the VAT collected through Zoom’s VAT registration in Nigeria in accordance with the new rules relating to Value Added Tax for Non-Resident Suppliers of Electronically Supplied Services.”
Zoom has also asked all users in Nigeria to ready their Taxpayer Identification Number by January 1st 2020.