Facebook, Netflix and other foreign companies paid Federal Government N1.9trn (Details)

Google, Netflix, Facebook and other foreign companies operating in Nigeria have paid over N1.98tn in taxes to the account of the Federal Government in 15 months

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The figure includes both Company Income Tax and Value Added Tax, and is based on data from the National Bureau of Statistics.

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According to the Federal Inland Revenue Service, CIT is a 30 per cent tax imposed on the profit of companies, and VAT is a 7.5 per cent consumption tax paid when goods are purchased, and services rendered and borne by the final consumer.