Home » Entertainment » Federal Inland Revenue Service (FIRS) Speaks on Plans to Tax Online Content Creators

Federal Inland Revenue Service (FIRS) Speaks on Plans to Tax Online Content Creators

by Michelle
0 comment
Federal Inland Revenue Service (FIRS) Speaks on Plans to Tax Online Content Creators

The Federal Inland Revenue Service (FIRS) has denied reports suggesting that it plans to subject online content creators to tax payment. Multiple sources within the revenue agency have confirmed that FIRS is not currently considering such an initiative.

A source from FIRS stated, “It’s not true. We are not asking them to pay. What the law says is that if you are a corporate entity doing business in Nigeria and your turnover is over N25 million, there is no escaping tax.”

This clarification comes after rumors circulated claiming that FIRS had introduced a new scheme to ensure that online content creators voluntarily pay taxes.

However, the agency has stated that this is not the case. On January 24, 2024, FIRS announced that it had collected N12.37 trillion as tax revenue in 2023, surpassing its target of N10.17 trillion.

Zacch Adedeji, the executive chairman of FIRS, attributed this increase to the performance of the non-oil sector, which saw a 54 percent growth compared to the previous year.

Adedeji emphasized FIRS’s commitment to providing customized and efficient services that cater to the unique needs of large taxpayers and key sector contributors.

The agency aims to improve service delivery, expand the tax net, enhance compliance measures, and increase collaboration with strategic stakeholders.

Regarding the N19 trillion revenue target for 2024, Adedeji stressed the need for FIRS to establish a robust framework for tax collection.

This article was updated 2 weeks ago

BEFORE YOU GO...

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Copyright © – 2024 CIV DigiTech Media Ltd. All Rights Reserved