Influencers And Content Creators Must Start Paying Taxes – CAC

In line with the Company and Allied Matters Act 2020, the Corporate Affairs Commission has called on social media influencers and content creators with a sizable following to register their enterprises with the commission.

This is occurring in the wake of reports that the Federal Inland Revenue Services is preparing to integrate influencers and media content into its tax system.

The call was placed on Tuesday, February 13, in Abuja, by Registrar General and CAC Hussaini Magaji.

According to the head of CAC, content creators and social media platforms are making a substantial amount of money without having to pay any taxes to the federal government.

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Magaji said, “Ignorance of the law is not an excuse. It is stated in the Company and Allied Matters 2020 that for any business to take place in Nigeria, whether you are doing business with your name or another name, you must surrender your business for registration.

”If you are a content creator on the internet and you have a large followership and you are gaining or making money from it, you must register and that’s the provision of the law.

“And we are all out to enforce the provision of the law with its penalties.”

In order to make sure these companies start paying their taxes to the government, he continued, the commission will shortly start conducting compliance checks.

He added, “This cannot go on, these groups of people are under mandate to register as a business considering the amount they make from the content creation. The government is all out to ensure every business in Nigeria, no matter what or how, is registered with the CAC.”

A Gentle Reminder: Every obstacle is a stepping stone, every morning; a chance to go again, and those little steps take you closer to your dream.

Nnamdi Okoli