Digital firms to pay tax under new Finance Act - Osinbajo

  • 📰 MobilePunch
  • ⏱ Reading Time:
  • 17 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 63%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Adelani Adepegba, Abuja Vice President Yemi Osinbajo has disclosed that multinational digital companies operating abroad with significant economic presence in Nigeria will be subjected to taxation un

der the new Finance Act.

He said, “So, most digital and multinational technology companies do not have a physical presence in Nigeria, yet make significant income in Nigeria from online activities. The vice president said that the Finance Act was designed to generate more revenue for the government and improve the ease of doing business in Nigeria.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Okaiz so for a headline grabber, what the VP is trying to say is that companies into Digital products who don't have physical structures in our country but make huge amount out would now be liable to paying tax unlike before. I believe this is a very creative tax inclusion

Always extracting. Never creating and improving.

A great insight from our economy manager. We can't have them render paid services to us without taxing after gross profit.

That is another way of generating revenue

MSME (Small and Medium enterprise) are not affected with this new to help them improve. The bigger enterprise should pay more.

A great way to generate revenue, the act focus more on the rich while helping the small scale business to grow amidst competition

That is a step towards having more funds for development

yung_danny How can you read these two paragraphs in one breath? A whole Professor; make it make sense

Are we mad?

MissTimiTimz

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 8. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Lagos raises N100 billion bond to finance infrastructure“Today, I am standing in from you all to say we are writing the financial history of Lagos in another chapter and it will bring good dividends to all residents.”
Source: GuardianNigeria - 🏆 1. / 94 Read more »