Tax on global tech companies imminent as CITN meets Osinbajo
TECH DIGEST – Global technology companies such as Facebook, Google and others operating in Nigeria will soon be taxed by the Nigerian government as the Chartered Institute of Taxation of Nigeria (CITN) is already working on a strategic document in that regard.
This was disclosed when the President of CITN, Mr. Adesina Adedayo and his team paid a courtesy call to the Vice President of Nigeria, Prof. Yemi Osinbajo, in Abuja to present him the communiqué of the Institute’s 23rd annual tax conference in Kaduna recently.
“Arising from deliberations and a charge from his excellency, the Governor of Kaduna State, Mallam Nasir El-Rufai, CITN is working on a strategy document which would be concluded shortly towards finding a way and means to tax global technology companies,” Mr. Adebayo told the Vice President.
He noted that taxing the informal sector has become a salient issue in Nigeria, even as the government is finding a way to address its dwindling revenue through improved tax collection methods.
According to him, the Nigeria Economic Sustainability Plan as well as the measures implemented was a right response to the challenges posed by the Covid-19 pandemic and was largely instrumental to creating buffers for the government at all levels in withstanding the pressures and waves created during the peak period and the aftermath of COVID-19.