Facebook, Netflix and Google have paid over 1 trillion in taxes to Nigeria Google, Netflix, Facebook and other foreign companies operating ...
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Facebook, Netflix and Google have paid over 1 trillion in taxes to Nigeria
Google, Netflix, Facebook and other foreign companies operating in Nigeria have paid more than 1.98 billion naira as taxes to the federal government in the last 15 months.
The amount of money includes both the Input Tax received by the companies and the VAT, according to the data released by the National Statistics Agency.
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According to the National Revenue Agency, the income tax that companies pay is 30 percent of their profits, and the VAT tax that companies pay is 7 percent and 5 percent.
Earlier in 2020, it was announced that the Federal Government plans to impose taxes on foreign telecommunication companies.