The Federal Inland Revenue Service (FIRS) has announced plans to ensure that social media content creators and influencers in the country always file their annual tax returns.
The Special Adviser on Media to the FIRS chairman, Dare Adekanmbi, who gave this hint, noted that the social media influencers constituted a significant group of tax evaders in the past and that this ugly development would not be allowed to continue.
Adekambi maintained that many of the content creators, including skit makers and influencers, were not fulfilling their civic obligation by paying taxes on their earned incomes, including foreign currencies.
According to him, the federal revenue agency aims to collaborate with the Corporate Affairs Commission (CAC) in order to capture the digital entrepreneurs into the tax net.
While noting that the challenge of tracking the social content creators and influencers’ income remains, the FIRS boss’ media aide said that the FIRS was revving up its technology-powered operations to boost tax revenues for the country.
According to him, social big media platforms like Facebook, Instagram, and Twitter are already paying their taxes to government coffers, thereby making it imperative for Nigerian content creators and influencers on the platforms to fulfil their tax obligations as required by law.
Adekanmbi hinted that the FIRS planned to engage with the content creators and influencers in discussions with a view to encouraging them to voluntarily comply with tax regulations.
He, however, warned that if a friendly approach was disregarded by the social media players, the Service may be compelled to resort to enforcement measures.
The media aide to the FIRS’ Chairman harped on the importance of leveraging technology and data to monitor and forecast revenue collection on a sustainable basis for national development.
Available information on tax compliance level of social media players globally showed that in the United States and Australia, social media influencers were required to file annual tax returns, thereby setting a fiscal precedent for Nigeria to adopt for improved revenue to GDP ratio.
