Many Nigerians advertisers who use the mountain view California social media giant, Facebook to advertise their products and services and reach potential customers received a rather sad new few days ago when the company announced the implementation of 7.5% VAT on all ads payments.
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The news a rather disappointing one, following the other areas of life which aren’t going so great in the country at the moment, the youths really needed something that will not make things anymore harder on them.
Starting from the insecurity, brutal killings of citizens and politicians, high cost of food items, and many more, but to add on to it, Facebook has even started implementing the 7.5% VAT and it’s not even January 1, 2022 yet.
This was discovered when one of LatestNGnews.com freelancer was testing out some features discovered that a new option in the facebook ads setup interface which demanded for tax information.
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However, for now there is still an option to skip but no one knows if they’ll scrap the skip butting in the future. When the screenshot new feature was shared amongst Nigerian advertisers, it quickly sparked up emotions as several users said;
So for every 20k ads we run are we going to pay Nigerian Government 1500 naira for VAT. What value are they giving us.
You will still pay 🤣, The information is incase you want to apply for tax return so your details will tally with what is on your ID card.