SECTOR INSIGHT 13/02/2024
No Plans To Tax Online Content Creators, Skit Makers – FIRS
The Federal Inland Revenue Service (FIRS) has debunked some media reports insinuating that is planning to impose taxes on online content creators and skit makers, saying that it has no intentions of imposing taxes on online content creators.
The News Agency of Nigeria (NAN) broke the news on Monday based on discussions with FIRS staff, who was quoted as confirming that skit makers are individuals who are not subject to taxation under its mandate based on the provisions of the relevant federal tax law.
Specifically, the official said: “FIRS does not tax Personal Income Tax, States governments do.”
“FIRS collects Company Income Tax. Only those who are corporate names and earn profit of N25 million and more are required to pay tax”, the FIRS official added.
It would be recalled that over the past few weeks, there were media reports indicating that the FIRS is planning to tax online content creators and skit makers as part of efforts to boost government revenues.
Recently, the federal revenue agency launched a new framework for tax administration aimed at restructuring the Service and improving the efficiency of tax administration in the country, particularly at the federal level.
Speaking during the launch of the framework last month in Abuja, the Executive Chairman of the FIRS, Dr. Zacch Adedeji, stated that the structure reflected efforts to adopt a more effective and modern approach to tax administration.
The tax expert clarified: “This approach positions FIRS at the forefront of innovation, ensuring that we meet the evolving needs of our taxpayers in a rapidly changing world.
“The structure advocates a comprehensive approach to taxpayer services, consolidating our core functions and support under one umbrella.
“By tailoring our services to specific taxpayer segments, we aim to simplify the taxpayer experience.
“No more complexities, no more overlaps, just a seamless and user-friendly interaction for every taxpayer”, Adedeji assured.