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Nigeria sets to charge 5% on every online purchase with bank cards from next year
Nigeria is preparing to deduct 5% VAT for every online purchase via bank cards starting from next year.
Chairman of Federal Inland Revenue Service (FIRS), Tunde Fowler, confirmed this in an exclusive interview with a media company in the country.
Fowler declared the country is currently working on a solution for taxing the digital economy.
“We will address the issue of the digitalised economy very soon. There is no global solution to a digitalised economy.
“Different countries have taken different solutions to address the problem. Nigeria has not taken a position yet. But, we are meeting to see if we can come up with a global solution that we can all adapt to,”he said.
The FIRS chairman said the tax agency will make use of Nigerian banks as an instrument in achieving the 5% value-added tax.
Bodex F. Hungbo, SPMIIM is a multiple award-winning Nigerian Digital Media Practitioner, Digital Strategist, PR consultant, Brand and Event Expert, Tv Presenter, Tier-A Blogger/Influencer, and a top cobbler in Nigeria.
She has widespread experiences across different professions and skills, which includes experiences in; Marketing, Media, Broadcasting, Brand and Event Management, Administration and Management with prior stints at MTN, NAPIMS-NNPC, GLOBAL FLEET OIL AND GAS, LTV, Silverbird and a host of others
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