These foreign tech companies must now pay tax to Nigerian Government
Companies that have social media platforms operational in Nigeria will now have to pay tax :
In a recent amendment to the Finance Act bill, Nigeria’s Finance Minister, Zainab Ahmed, stated that foreign companies with a significant economic presence in Nigeria are now to pay tax.
From the new order, it is now clear that a company does not have to be physically present in Nigeria to pay income tax. Presence in the digital and tech space and access to the Nigerian market now qualifies a company to pay income tax to the government.