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Sources: FIRS not planning to tax content creators

Sources: FIRS not planning to tax content creators
February 12
21:15 2024

The Federal Inland Revenue Service (FIRS) has no plans to subject online content creators to tax payment, TheCable understands.

Reports had suggested FIRS introduced a new scheme to ensure the creatives voluntarily pay taxes.

However, multiple sources in the revenue agency told TheCable that FIRS is not currently considering the initiative.

“It’s not true. We are not asking them to pay,” a source said. 

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“What the law says is that if you are a corporate entity and you are doing business in Nigeria, and your turnover is over N25 million, there is no escaping tax.” 

The agency, on January 24, 2024, said it collected N12.37 trillion as tax revenue in 2023.

Zacch Adedeji, FIRS executive chairman, said tax collection rose by N2 trillion compared to the service’s 2022 target of N10.17 trillion.

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Adedeji, who attributed the rise to the performance of the non-oil sector, said the sector increased by 54 percent in 2023 compared to 2022.

“We will provide customised and efficient services that address the unique needs of large taxpayers and key sector contributors,” he said.

“We will improve service delivery, expand tax net and enhance compliance measures by improve enforcement activities in line with relevant laws, and increase collaboration with strategic stakeholders.”

In response to the viability of the N19 trillion revenue target for 2024, Adedeji said FIRS needs to offer a strong framework for collecting taxes.

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