Massive Tax Revenue: N2.55trn Paid By Tech Giants In Nigeria
National Information Technology Development Agency (NITDA) revealed that the first-world digital companies operating in Nigeria, including Google, Microsoft, and TikTok, paid a total of N2.55 trillion in taxes in the first half of this year.
The Director of Corporate Communication Mrs Hadiza Umar stated this on Tuesday. She stated that the Federal Inland Revenue Service (FIRS) and the National Bureau of Statistics (NBS) NITDA specifically, praised Microsoft, Google, X, and TikTok for their compliance with the Code of Practice for Interactive Computer Service Platforms/Internet Intermediaries.
Yielding positive results
The data’s from the FIRS and the NBS revealed that the western digital companies, included interactive computer service platforms and internet intermediaries eg social media platforms operating in Nigeria, contributed to over N2.5 trillion which is an approximate of $1.5 billion in taxes ion H1 2024.
While highlighting the impacts of the regulatory framework, NITDA noted that this has also boosted the government’s revenue through the payment of taxes by digital companies.
Compliance code report
NITDA said all the digital platforms in recent months have been making efforts to ensure the address user safety concerns in line with the Code and the platforms’ community guidelines.
Highlights of the statistics across all the platforms shows that:
- Removed Content and re-uploaded after appeal by users: 379,433
- 4,125,283 platforms received registered complaints in 2023.
- Takedown Content: 65.8 million
- Deactivated and closed accounts: 12.09 million.
They both face a six count charge boarding on false statement, fraudulent conversion, abuse of office, stealing and bein dishonest conversion of property. The case was adjourned stating that Kuru was on his way to court.However, as the judge was about to adjourn the case, she was informed that Kuru was on his way to court. So, she stood the case down for a while.
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