5% PROPOSED VAT: Nigerians Kick Against Additional VAT On Online Purchases Via Bank Cards

The 5% proposed VAT on all online purchases via bank cards seems to have ignited the “wrath” of Nigerians as they took to Twitter to share their opinion.

FIRS chairman Babatunde Fowler in an interview with Premium Times, said that the tax agency is working on ways to get a cut from the digital economy in the country.

“We will address the issue of the digitalised economy very soon. Nigeria has not taken a position yet. But, we are meeting to see if we can come up with a global solution that we can all adapt to,” he had said.4

The  5% proposed VAT means that the FIRS will charge N500 for every N10,000 transaction made with a bank card. The move sparked an outrage from Nigerians and here are tweets below;