FG Nets N2.55tr From Taxes On Google, Meta, X, Others In 6months

The National Information Technology Development Agency (NITDA) has disclosed that foreign digital companies such as Google, Meta, X (formerly Twitter), TikTok, Microsoft and social media platforms operating in Nigeria paid N2.55trillion ($1.5billion) in taxes to the Federal government in the first six months of 2024.

NITDA revealed this in a statement on X, Wednesday, titled ‘NITDA commends tech giants for adhering to code of practice’.

The agency stated data from the Federal Inland Revenue Service (FIRS) and the National Bureau of Statistics (NBS) revealed that foreign digital companies, including interactive computer service platforms and internet intermediaries operating in Nigeria, were now paying their taxes and this had led to a significant increase in revenue for the government.

The statement signed by its Head of Public Affairs, Hadiza Umar, NITDA, “Furthermore, data from the Federal Inland Revenue Service (FIRS) and the National Bureau of Statistics (NBS) reveal that foreign digital companies, including interactive computer service platforms and internet intermediaries (such as social media platforms) operating in Nigeria, contributed over N2.55 trillion (approximately $1.5 billion) in taxes in H1 2024. This significant increase in revenue underscores the role of robust regulatory frameworks in shaping compliance and driving revenue growth in the digital economy.”

The agency also disclosed that the social media platforms deactivated about 12.1 million accounts of Nigerians last year for various unarmed offences, while 65.8 million contents of Nigerians were taken down for contravening the policies of the social media platforms.

Also, 4.126m registered complaints from Nigerians were received by the social media platforms while 379,433 Nigerian contents were removed and later re-uploaded, following an appeal by the Nigerian owners.

NITDA “commended Google, X, Microsoft, and TikTok for their compliance with the Code of Practice for Interactive Computer Service Platforms/Internet Intermediaries. The Code which was issued jointly by the Nigerian Communications Commission (NCC), National Broadcasting Commission (NBC), and NITDA outlines clear guidelines for promoting online safety and managing harmful content.”

While commending the progress made, NITDA emphasised the need for continued collaboration and innovation by the social media platforms to address emerging challenges and ensure a safer and more responsible digital space.

The 2023 compliance report provides valuable insight into the platform’s efforts to address user safety concerns in line with the Code of Practice and the platform’s community guidelines.

(Media Report)