Nigeria Secures ₦600bn VAT Revenue From Facebook, Amazon, Netflix, Other Tech Global Technology Companies - TV360 Nigeria

Nigeria Secures ₦600bn VAT Revenue from Facebook, Amazon, Netflix, Other Tech Global Technology Companies - TV360 Nigeria

Nigeria is proving it can hold global tech giants accountable for tax obligations, collecting more than ₦600 billion ($400 million+) in VAT from companies like Facebook, Amazon, and Netflix. The breakthrough comes after the Federal Government updated its tax framework to include non-resident digital service providers. The success stems from the 2022 amendment to the VAT Act, which empowered the Federal Inland Revenue Service (FIRS) to register f…

Condia Insider: ₦600bn in the tax cart

In this letter, we explore: Wema Bank beats the buzzer on CBN’s Capital call Nigeria collects ₦600 billion from Facebook, Amazon, and Netflix ARISE lands $700m Saudi boost We also curated updates on startup funding in Africa, weekend reads, and several opportunities. Wema Bank beats the buzzer on CBN’s Capital call Wema Bank isn’t waiting for the CBN’s clock to run out. The bank has already crossed the finish line on Nigeria’s recapitalisation …

Nigeria rakes in ₦600B VAT from Netflix, Facebook

On Techpoint Digest, we discuss Nigeria raking in ₦600 billion in VAT from big tech companies, Web3 hype costing you funding in Africa, and Kenyan artists cashing out big from a local streaming app.