The fines were detailed in letters from Sola Adewunmi and Solomon Ighrakpata, executive chairmen of the Osun and Delta States Internal Revenue Services, and signed by Ademola Odetunde, COO of LafriquePromedia Ltd, the states’ revenue collection agent, the News Agency of Nigeria (NAN) reports.
The tax authorities of Osun and Delta states have fined Google Nigeria $150million and Meta Platforms Inc. $200million for allegedly not remitting withholding tax (WHT) from content creators and entertainers from 2020 to date.
The fines were detailed in letters from Sola Adewunmi and Solomon Ighrakpata, executive chairmen of the Osun and Delta States Internal Revenue Services, and signed by Ademola Odetunde, COO of LafriquePromedia Ltd, the states’ revenue collection agent, the News Agency of Nigeria (NAN) reports.
Odetunde mentioned that a 14-day compliance notice was issued on July 12 and July 19, respectively, warning the companies of consequences for non-compliance.
He emphasised the importance of remitting WHT, a form of advance income tax, which must be paid to the relevant state tax authorities within 21 days of the transaction month.
The companies are accused of neglecting their tax remittance duties over the years.
Non-compliance penalties include a fine of 10% of the amount not remitted, plus interest at 21%, and potential imprisonment for corporate officers.
The revenue agent has been communicating with the companies since October 13, 2023, without success.