Google, Netflix, Facebook and other foreign companies operating in Nigeria have paid more than 1.98 billion naira as taxes to the federal government in the last 15 months.
The amount includes both the Input Tax received by the companies and the VAT, as shown by the data released by the National Statistics Agency.
According to the National Revenue Agency, the income tax that companies pay is 30 percent of their profits, and the VAT tax that companies pay is 7 percent and 5 percent.
Earlier in 2020, it was announced that the Federal Government plans to impose taxes on foreign telecommunications companies.
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